A new-construction condo was facing operating budget overruns and a mismatch of opinions among board members on how to tackle the issue, leading to a decision to increase common charges year over year rather than assess a one-time fee. (Print: Choosing the Right Financial Path)
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“Operating Costs” returned 3 articles
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Condo Board Opts to Increase Common Charges to Balance Budget
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The Problem: Reducing Operating Costs
A cost-reduction service offers free second opinions to co-op and condo boards, identifying potential savings in ongoing operations or specific projects, with a contingency-based fee structure for shared savings.
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Databases of Co-op/Condo Operating Costs
Find out how your expenses compare with other buildings.
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