HABITAT
Subscribe for Daily Updates!
A good Board cannot make revenue and operating costs appear and disappear as needed. Our small building operates on a very tight budget, we have no frills and no services beyond garbage handling and exterminator, and trust me, there is no where to get the extra 7% tax hike from. A good board must raise maintenance to cover monthly op costs, and we also charge a 13th month assessment each year to allow for contingencies. Where would you suggest we cut our expenses? I think you have to be realistic when you say a board has to find "leaks" in the budget and stop them.
Just as in any small business, the budget is very carefully looked over to maximize the "bang" of every buck. Sometimes you only find a drip... not a leak. Once you plug that......
I'm a firm believer in finding new sources of income. Storage, fitness room, tag sales, calendar sales.... whatever it takes.
But even after all that, when the utilities go up in double digits, when the tax rates increase, when the insurance is consolidated with hundreds of other buildings to gain maximum coverage for minimum expense, when you've metered and submetered and monitored supplies and you've wrapped pipes, upgraded systems, etc........
sometimes the only thing left is to increase maintenance. Doesn't mean the Board is lazy, stupid, inefficient or anything else that's bad. Just responsible, as it should be.
Introduce yourself to other members of Board Talk! Log in below or register here.
Board Talk members who registered prior to March 9th, 2016 will need to reset their password.
Board Talk members who registered prior to March 9th, 2016 will need to reset their password.
Habitat u
visit habitat uHabitat U: learn about how to manage a building, and what you should know as a co-op or condo board member.
Archives
search
Search, by word or phrase, all magazine articles from January 2002 to present. You may print or email your results. Print subscribers receive free access to the Habitat Article Archive.
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!
big buildings have lots and lots of leaks. insurance can be improved. always. water bills can be contested. etc. supplies. tax ceritoori. energy bulbs and better heating. overtime and better management of staff. there are leaks allover.
Thank you for rating!
You have already rated this page, you can only rate it once!
Your rating has been changed, thanks for rating!
Board Talk members who registered prior to March 9th, 2016 will need to reset their password.