ARCHIVE SEARCH RESULTS

When shareholders request to transfer ownership of their shares to a trust, boards need to make sure it's clear what the rules are, including the shareholder's responsibility to pay the maintenance and the board's right to approve occupancy. (Print: When Trusts Get Tricky)

Boards should have a process in place to verify that prospective purchasers are financially qualified, and should also meet with prospective purchasers before making a decision to ensure their applications are truthful. (Print: Setting the Bar)

Despite longstanding regulations, enforcement on laundry room upgrades in a Mitchell-Lama co-op faced delays exacerbated by COVID and supply chain issues.

Freeze-thaw cycles take a heavy toll on building facades. Replacing — not just repairing — damaged stonework is a major undertaking, but worth it over the long term.

Keep track of the history of apartment alterations. It will help assign responsibility for repairs after a one-time casualty leak.

Co-ops and condos can legally require owners to have insurance, allowing boards to raise building deductibles and potentially lower premiums.

Manhattan Place condominium faced lobby floor cracks post-Hurricane Sandy. Solution: flexible large-format tiles, silicone grout, and anti-fracture membrane to absorb movement.

Maximizing rooftops offers cost-effective solutions under Local Law 97. Urbanstrong provides packages for green retrofits, helping boards avoid fines and generate passive income.

When transitioning from sponsor management to third-party management, boards may face challenges obtaining financial records. Monthly reports and preventive measures are crucial.

Mixed-use condos have varied governance structures with separate or overarching boards. Disputes arise over common charges, often due to budget discrepancies and special allocations. Proper budgeting and legal review are crucial.