ARCHIVE SEARCH RESULTS

Insurance brokers are working to lessen the sting of premium increases by getting proactive about renewals, looking for value rather than the lowest premium, and delivering the news early to allow boards to adjust their budgets accordingly. (Print: INSURANCE STICKER SHOCK)

A co-op in Astoria consulted with aRoboticsCompany to investigate leaks in a 2,000 square-foot deck, and after providing evidence to the contractor, the contractor agreed to replace the 300 square feet of damaged deck, saving the co-op money and time. (Print: Finding Leaks)

When commercial owners aren’t paying their fair share of maintenance, boards can’t afford to let imbalances go unaddressed. (Print: Checks and Balances)

Boards are scrambling to undertake energy retrofits to avoid hefty fines for carbon emissions, with some opting for mortgage refinancing or lines of credit to fund the projects, while others are allocating a portion of maintenance to the reserves and imposing flip taxes, sublet fees, and alteration fees. (Print: Energy Upgrade: A Step-by-Step Strategy)

Boards must balance the need to minimize costs with their fiduciary duties to keep the building in good repair, and must rely on professionals to navigate the complex regulatory landscape and budget accordingly. (Print: Budgets: Facing the Facts)

A Tribeca condo is dealing with a decade-old default from the sponsor, leaving the building with an expired TCO and no final CO, which has resulted in unresolved permits and violations, making it difficult to obtain mortgages for apartment purchases. (Print: Perseverance Required: Road to Legality)

Project managers are essential for managing complex projects with multiple trades and access agreements, as they can negotiate prices, phase the work to save on soft costs, and match the right professionals to the board's needs.(Print: Do You Need a Project Manager?)

Boards must carefully assess their needs and expectations when choosing a new property manager or management company, while management firms must match their staff to the board's priorities and provide extensive training to less experienced team members. (Print: The Two Faces of a Management Transition)

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)

A prewar co-op on W. 86th St. managed by Century Management conducted a feasibility study of its gas lines, which revealed that the system was not only going to fail in the event of a pressure test, but none of the isolation valves actually worked, leading to a $650,000 to $700,000 upgrade. (Print: The Upside of Being Proactive)