HABITAT
Following the Money: What New Condo Boards Need to Know About Sponsor Exit
During the period when a new condominium comes on the market and the sponsor finally turns over control to the condo board, who is paying for the condo’s operating expenses? The building is not fully sold so there aren’t enough paying owners to fund the budget, yet the building is operating as if it was fully occupied. Christopher Saray, manager at the accountancy firm of WilkinGuttenplan, explains the how this works, what new condo boards need to understand about the budget when they take over and what condo buyers should be aware of. Habitat’s Carol Ott conducts the interview.
Board Talk
Engage, enrage, ask questions and give answers with your community of board members. Submit your questions and comments here!
Habitat Week by Week
Co-op and condo board business broken down into bite-sized bits - 2 stories each week. Read now on all digital devices.
Ask the Experts
learn moreLearn all the basics of NYC co-op and condo management, with straight talk from heavy hitters in the field of co-op or condo apartments
Professionals in some of the key fields of co-op and condo board governance and building management answer common questions in their areas of expertise
Subscribe
join nowGot elected? Are you on your co-op/condo board?
Then don’t miss a beat! Stories you can use to make your building better, keep it out of trouble, save money, enhance market value, and make your board life a whole lot easier!