NYC pied-à-terre tax: What condo and co-op owners need to know

Annual meetings are not only a necessary part of association management – they are a valuable way to ensure smooth operations, enhance the lifestyle of owners and residents, and position your property for success. The main purpose of your your Your New York City Cooperative or Condominium's annual meeting is to inform shareholders and unit owners of the state of the property. Meetings may cover the building’s finances and any planned projects or ongoing capital improvements, and also include the election of new board members, voting on proposals requiring owner approval, or action on other urgent business. To start, we’ll offer you a quick overview of vital tips to ensure that your annual meeting is an efficient and productive one.

 

Two FirstService Residential managed properties are featured in a Habitat magazine article about the convenience and accessibility of fresh, local ingredients thanks to Brooklyn-based produce delivery company, Farmigo.

A board of directors in a cooperative or board of managers in a condominium can be a diverse group. That’s especially true in New York City, where residents are known for their diversity of opinions – and their willingness to share them. In a dysfunctional board, this can be a recipe for disaster. But if you place an emphasis on fostering the right dynamics among your board members, you can turn these varying opinions and personalities into an armory of strength. Let’s take a look at how you can make this happen. 

 

Nothing that happens in New York City is done halfway – everything is bigger, better, bolder and more. And that goes for the lobby of your condominium or cooperative too. Your lobby is your building’s chance to make a great first impression on a prospective resident. So what impression do you want to impart? Stylish and modern? Classic and grand? Fun and upbeat? Your lobby can convey all of this – and more. On the flip side, it can convey just the opposite. A shabby lobby with outworn features tells visitors and residents that this is a place where there’s little care and even less when it comes to service. It’s a big responsibility, so we’re here to help out with a few tips. 

 

In a densely populated, cultural and financial capital like New York City, the initiative to reduce carbon emissions has gained momentum, making sustainability and resiliency a point of focus in everyday living. With various incentives and rebates offered by utilities and government agencies, buildings are able to embrace green practices and "go green" at a lower cost while enjoying ongoing energy savings as a result. We’ll give you a quick tutorial on finding an appropriate solution for your building and making the most out of the different energy incentives currently available. 

Each year, cooperative shareholders and condominium owners meet to elect a board of directors or a board of managers that will be responsible for all aspects of the building for the following year. That election takes place at the community’s annual meeting. Board elections are a key part of your association’s stability and future growth. Follow these steps to make sure your election is fair, inclusive, and consistent with your governing documents. 

As dogs become cherished family members and your family’s best friend, it is very important to invest in their proper dog training and socialization. This will help you avoid any friction within your own home, as well as with those in your community. As a devoted dog owner, it’s up to you to earn a good reputation for yourself and for your dog. Here are some effective dog training tips to help make you and your dog a good community citizen and minimize complaints from neighbors.