ARCHIVE SEARCH RESULTS

The Hillcrest Park Condominium in Peekskill, NY was destroyed by a fire, forcing 25 residents to relocate and causing the association's insurance costs to increase significantly. (Print: When Disaster Strikes: A step-by-step action plan needs to be in place)

Property management has embraced digital tools to offer efficiencies, provide real-time information, and ensure security, but it is important for boards to understand the costs and responsibilities associated with technology. (Print: Digital Details: What Board Directors Need to Know)

The International Tailoring Company Building in Manhattan has installed a hybrid electrification system, reducing fossil fuel use by over 80%, reducing energy use by 57%, and making apartments more comfortable, with the project avoiding the need for an assessment. (Print: Hybrid Solution: Heat Pumps and a Boiler)

Gerald Ross has been the president of 160 West End Ave for nearly four decades, overseeing the building's maintenance, shareholder issues, and energy efficiency initiatives, while maintaining a $12 million revenue stream and $6 million in reserves. (Print: Taking Charge: Gerald Ross)

A co-op in Lower Manhattan is facing a massive demolition and construction project across the street, while dealing with a seemingly endless FISP assessment and a reserve fund for future expenses, causing shareholders to be "FISP-fed up" and frustrated with the board. (Print: Stage Management)

Requiring homeowner insurance is a crucial strategy for mitigating risk and protecting the financial health of a community, as it provides essential coverage for liability, personal contents, loss of use, and loss assessment, and can help transfer risk to the homeowners. (Print: The Cost of Risk)

A Manhattan co-op solved the problem of noisy steam radiators by replacing the missing parts, which resulted in a reduction in noise and energy savings of 10-15% in the winter. (Print: Radiators: The Sound of Silence)

A condo in downtown Brooklyn was found to have irresponsible finances, prompting a 30% common charge increase and a $50,000 assessment to restore the reserves. (Print: Duped By Developers)

A pre-war co-op in New York City had to install individual heat pumps in each apartment due to failing gas boilers, which required a $2 million investment and coordination with multiple contractors, architects, and consultants. (Print: Energy Upgrade: Not By Juice)

A co-op in the Bronx experienced conflict between management and a shareholder over the installation of video cameras to deter package theft, but the situation was resolved through proactive communication and a personal touch. (Print: Dialing Down Emotions)

Queensview Inc. is saving up to $1 million on a $12 million project by bundling 14 building repairs and roof replacements, minimizing disruption to shareholders and saving time and money on soft costs and permits. (Print: Repairs: Queensview’s Three-In-One Solution)

Seminole Owners Corp. in Forest Hills, Queens, has installed wireless indoor heat sensors to reduce winter heating bills by over $40,000 a year, with the cost of the upgrades coming in at $14,722 after a $10,578 utility rebate from National Grid. (Print: Heat Sensors: Sensitizing the System)

A comprehensive checklist is essential for a smooth transition to a new property manager, as it ensures that all records, files and documents are produced, categorized and filed, preventing potential risks such as missed tax filings or non-compliance with code requirements. (Print: Pivoting to New Management)

Boards must update their governing documents to avoid headaches and lawsuits, as outdated documents can lead to lower property values, lack of clarity on apartment alterations, and confusion over who can live in an apartment when a shareholder dies. (Print: Updating Governing Documents)

Virtual or hybrid meetings have become the norm for co-ops and condos, offering increased flexibility and convenience, making it easier to reach a quorum, and attracting a younger, more tech-savvy demographic to the board. (Print: The Upside of Remote Meetings)