ARCHIVE SEARCH RESULTS

Boards must overcome inertia by creating a roadmap for future projects, including maintenance and compliance with local laws, in order to avoid costly disasters and ensure a clear path forward. (Print: Overcoming Board Inertia)

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)

A co-op on the Upper East Side avoided a lawsuit by holding an annual meeting and staggering board terms, allowing shareholders to participate remotely and avoid the threat of legal action. (Print: Legitimacy Crisis)

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)

The board of Clinton Mews, a 77-unit co-op in Brooklyn's Clinton Hill, opted to put the $2.3 million set aside for a major window replacement project into an insured money market deposit account to earn interest, access funds quickly and easily, and have FDIC insurance. (Print: Putting Your Money to Work)

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)

A co-op in the Bronx was able to renew its insurance coverage with its original carrier after having multiple claims on its loss record, thanks to the help of FirstService Insurance Brokers. (Print: Hard Market, Hard Choices)

A co-op board found itself in deep water when water was pooling in the boiler room and repairs escalated to six figures, forcing the building to take out a $300,000 loan at a steep interest rate. (Print: A Boiler Room Deluge)

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)

Co-op and condo boards can now apply to register their buildings on the city's prohibited building list to ban short-term rentals, but must first amend their governing documents to specifically prohibit them. (Print: The Bane of Short-Term Rentals)