manager uses the reserves to pay for capital projects and does nothing to replenish them.
Sound familiar ... manager uses the reserves to pay for capital projects and does nothing to replenish them.
Sound familiar
in the neighborhood; and it could possibly be one of the youngest properties of its kind to need major capital ... properties of its kind to need major capital improvement work.
"There were a lot of construction defects
— was paid out of the co-op’s capital reserves without the need for an assessment. “We have a 5% flip tax ... the challenges of the fix-up, and how you can use their experiences to smooth out yours. Are you doing capital ... , and a combined heat and power system, all paid for out of the co-op's capital reserves without the need
to explain a controversial capital project, an accountant to describe disconcerting financial statements ... , such as the building's finances and planned capital improvements or projects.
-op on Manhattan's Upper West Side. "We needed to get a five- to ten-year estimate of capital-improvement costs, so ... and expensive building-conditions reports that co-op and condo boards use for capital-reserve planning, mortgage
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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.
Learn 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
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!