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management

a decent grip on our finances: what's 'regular' expense and what's unusual--so that we can plan and budget

reports/accounts

to get a handle on what's happening and where the money's going so we can budget and plan.

New BM

2007 to get an idea of the expenses, budget against expense report; also, you may ask for the past 4

Assessment & Maintenance Increase

to cut budget spending and raising bike storage fees from $7.50 a month to $10.00 a month and keeping

Less than 25% of owners have Garage Spot - increasing fee to market rate

+ in our neighborhood) so rather than increasing maintenance by 3% to cover the budget deficit, we raised

Less than 25% of owners have Garage Spot - increasing fee to market rate

is raised until it reaches street value. Since there was a budget shortfall makes sense to maximize any

Flip Tax/Assessment

increase depending on what their budget projections are for the coming year. Most increases will track

Yearly Maintenance Increases?

are negligible in a building budget, that may be well in excess of $500k for a 50 unit building. Cell towers may

Discretionary/non-discretionary income

would be very wary about balancing an annual budget that includes anticipated income from unit sales

Financial Records

of the last five years of audited financial reports and annual budget projections. How the accountant reacts

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Board Talk

Engage, enrage, ask questions and give answers with your community of board members. Submit your questions and comments here!

Super starting his own business outside of the co-op

Bob B JR Dec 20, 2024

radiator air valves

Pre-war cooperative NYC Dec 19, 2024

Coop serious problem - staff work without permits, etc

DM Dec 15, 2024

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 more

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

Source Guide

see the guide

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