HABITAT
Week by Week: March 21
Lauren Itkin had such a miserable time at her admissions interview that she swore she would never serve on the co-op's board. Eighteen years later, when the board president died, she renounced her vow and joined the board. Now she's glad she did. Board service gave her a chance to fix chronic problems in the building, like a terrible failure of an intercom system.
Our second story addresses another chronic problem at many buildings: boards' tendency to ignore the monthly management report, arguably one of the most important documents no one reads. CPAs and managing agents say this monthly review is crucial to the financial health of a building – so why does hardly anyone acknowledge it?
In Week by Week, we delve into Itkin's adventures on her board, and we explain why the monthly management report is one document you can't afford to ignore.
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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.
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