In the annals of gas inspections, this 45-unit co-op faced a unique one. The board learned from their plumber that the individual boilers and water heaters in each apartment were no longer code compliant. This meant the building wouldn’t be able to pass a gas inspection, and if there was a gas shutdown for any reason, it couldn’t be turned back on. Not good news for the board, and Margaret McAdams, Director of Management at Buchbinder & Warren tells Habitat’s Carol Ott how the board turned this gas doomsday scenario into a win for the co-op.

How To Run Your Building: For Co-ops and Condos

With the cost of building projects getting more expensive each year co-op and condo boards need to anticipate owner concern. Here, Peter von Simson, CEO of New Bedford Management, suggests it's well worth the time for board directors to discuss current and future projects - and the potential finances involved in tackling them - with apartment owners so they can plan accordingly.

How To Run Your Building: For Co-ops and Condos

It's all about preparation, not only for the topics covered, but most importantly for vote taking. Mark Levine, Principal of EBMG, walks through the prep steps and vote tally process of running a virtual annual meeting.

How To Run Your Building: For Co-ops and Condos

Creating a budget that merges capital planning with operations is no small feat. Andre Kaplan, CFO of Orsid New York, explains how balancing the three mains parts of a co-op/condo budget will help your board maintain value and meet the city's regulatory requirements.

How To Run Your Building: For Co-ops and Condos

The unexpected does occur, and when it does your co-op or condo better be prepared. Andy Marks, Senior Vice-President, Maxwell-Kates went through trial by fire on the first building he ever managed. He shares his experience here, the lessons he learned, and the steps he took to secure everyone's safety.

How To Run Your Building: For Co-ops and Condos

The compliance landscape has changed today, and many projects which used to be just a capital improvement now have to be viewed through a compliance lense. The question is, which budget bucket do you place it in , which projects can fill more than one bucket, which are the most impactful ones to do early and in what order should you do them? Chris Alker, Senior Vice President of Building Operations at Akam, offers a insight on how to chart this path.

How To Run Your Building: For Co-ops and Condos

Lead is a substance no one wants to find in his or her apartment, or the common area of building either. But it exists, and there are laws regulating who has to find it, who has to get rid of it, who's legally responsible, and who has to file lead notices with the city. The law specifically targets rental apartments, and this includes co-op or condo owners who sublet their apartments. Josh Koppel, President of H.S.C Management, shares the story of a client who had a lead problem in one of its apartments.

How To Run Your Building: For Co-ops and Condos

Property taxes are a perennial thorn in the side of a building's budget. But they have to be budgeted for, and in many cases, protested. The process is fairly simple, but there are steps every building should follow to figure out the upcoming budget figure and the plan to protest the tax. In this episode, Armin Radonic, Principal at Venture NY Property Management explains.

How To Run Your Building: For Co-ops and Condos