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Fortis, a Denver-based company, offers a solution for buildings with roofs in between needing replacement: recondition existing roofs, extend the warranty, and install solar panels with a simple one-page warranty.

Being proactive in addressing regulatory compliance can lead to cost savings in the long run. An Upper East Side co-op facing significant fines under the Carbon Mobilization Act opted to replace an old gas-fired chiller with an electric one, despite the hefty $1.1 million price tag. By bundling this project with other repairs and securing financing before interest rates rose, the co-op avoided paying higher carbon fines in the future and demonstrated the importance of continuous infrastructure investment and long-term planning for boards.

Property managers play a crucial role in helping co-op and condo boards understand the importance of effective scheduling in managing the many moving parts of running a building. Scheduling is essential in maintenance requests, inspection service appointments, and deliveries, and managers must consider various factors like timing, disruption levels, chemical usage, and access.

Being well-prepared with master spreadsheets and organized voting processes is crucial for successful online annual meetings. Virtual meetings offer convenience and efficiency for property managers, accountants, and attendees.

Co-op and condo boards have different ways of obtaining money. Co-op boards can seek an underlying mortgage from a lending institution without shareholder approval if it's for preserving the building's structural integrity. Condo boards need approval from a majority of unit-owners, usually through a two-thirds vote, to secure a loan larger than $50,000.

Insurance premiums for co-ops and condos have dramatically increased, with some umbrella policy costs tripling or quadrupling. Smaller properties suffer more as the burden is spread among fewer people. Cutting insurance coverage can be risky, as claims often arise when coverage is reduced

The new mandate requiring co-ops and condos to pay prevailing wages to employees in order to receive the property tax abatement has had a significant impact on budgeting. For condos, this means increasing the budget by raising common charges to meet the prevailing wage requirements.

Co-op and condo boards need to regularly review their policies to ensure they align with the changing real estate landscape and protect apartment values. Three examples of policies that need reassessment are cash down payments, subletting, and pied-à-terre. Adaptation to the changing world is essential to maintain and increase apartment values.

The writer expresses concerns about the tone of their board's emails to residents and seeks advice on improving it. The response advises adopting a neighbor-to-neighbor tone, avoiding imperious language, and inviting dialogue with residents.

Obtaining access agreements for repairs that require access to neighboring properties can be challenging. Changes in laws and enhanced safety measures have made these agreements more complex. Reciprocal access agreements, where both buildings may need access to each other at some point, can help level the playing field and avoid one party being excessively demanding.

A 105-unit building faced major capital projects with insufficient funds. Refinancing at a higher rate (5.55%) allowed them to cover expenses and complete projects more efficiently.