Greater Financial Health - Tips For Your New York City Condo or Co-op
Posted on Thursday September 22, 2016
Maintaining your New York City condominium or cooperative’s financial health—just like maintaining your personal health—boils down to moderation and sharp decision making. To maintain maximum financial health for your multifamily property, consider these four “financial fitness” tips:
Top 5 Budget Busters New York City Condos and Co-ops Should Be Wary Of
Posted on Wednesday September 21, 2016
As a New York City condo or co-op board member, one of your principal responsibilities is stewardship of your property’s finances. A lot of that boils down to one thing: your annual budget. Here, we’ll identify five things that tend to blow association budgets. If you’re partnered with a knowledgeable and experienced property management company, they’ll help you manage these budget busters so your property can avoid paying the price – literally and figuratively – later.
Effective Budgeting – Seven Important Steps To Consider
Posted on Tuesday September 20, 2016
Preparing your New York City condominium’s or cooperative’s annual budget can be a source of stress, but more importantly, it’s a valuable opportunity to take a deeper look into the status of your property’s financial well-being. Effective management of your building and your finances relies heavily on how successful you are in budgeting for short-term and long-term goals. As a board member, here are some important guidelines you should consider during budgeting season.
YOUR 2017 BUDGET CHECKLIST
Posted on Tuesday September 13, 2016
Preparing your New York City condominium or cooperative’s annual budget can seem like a daunting task. However, it is a highly valuable exercise that will ensure the financial well-being of your multifamily property and protect the investment of your fellow homeowners. If you are a board member of a property whose calendar year begins on January 1, here are some important questions you should be asking when creating your property’s annual budget.
Hoverboards: Should Your Bylaws Be Amended to Ban Them?
Posted on Thursday September 01, 2016
There have been numerous reports of apartments sustaining damage when a battery pack was left unattended while charging. As such, several FirstService Residential buildings have either banned hoverboards or imposed rules against them.
Case Study: Gas Conversion Significantly Reduces Utility Costs and Emissions for Upper West Side Co-op
Posted on Wednesday August 31, 2016
Danielle Apartment Corporation, a 79-unit cooperative located at 140 West 71st Street in Manhattan, was burning heating oil #4, which New York City has mandated be phased-out by 2030. To comply with the city’s order to convert to cleaner fuels, and in an effort to reduce the building’s carbon footprint, lower fuel expenses, and better control heating distribution, the board reached out to FirstService Residential for guidance on determining if these goals would be achievable by converting their boilers to natural gas.
Message from the President: Our Commitment to Continuing Education and Professional Development
Posted on Friday August 26, 2016
To ensure that our managers are well-informed on the latest industry developments, FirstService Residential regularly hosts seminars and educational programs during which industry leaders share their knowledge on timely topics. Due to the number of managers we employ, these experts know they will be addressing a large, attentive audience. That’s why we are able to attract key industry leaders to address our teams directly. Keep reading for more information on recent seminars.
55 Wall Street Embarks on $8.3 Million Project to Cut Energy Costs, Consumption and Emissions
Posted on Wednesday August 24, 2016
The Cipriani Club Residences, located at 55 Wall Street in Lower Manhattan, is making an $8.3 million investment in a multifaceted energy efficiency and cogeneration project. Once completed, the building stands to reduce its energy consumption and related emissions by 42% as well as cut energy costs in half – saving $900,000 annually.
Financing Capital Improvement Projects
Posted on Tuesday August 23, 2016
Many associations have not increased assessments at the pace required to adequately service an aging property. This deficiency has rendered some boards incapable of funding unexpected expenses, such as replacing major equipment or addressing structural or life-safety issues stemming from compliance with local laws. Read on for more informational details.