Media Coverage

Efficient condo and co-op boards make a building run smoothly. The most effective boards work in lock step with their management team, embrace open communication, and make decisions that consider the needs of all residents.

In The Cooperator, Keith Werny, CityLine Division president, empasizes that managers should be viewed as trusted advisors whose goal is to help boards navigate challenges and enhance property value.
 

"Boards don’t have to figure out everything on their own – in fact, they shouldn’t. The best working relationships are with boards who understand our end game is to support them through every challenge."

— Keith Werny, President | CityLine Division

   

Developers and building owners lean on data and new tech to manage constant change. AI, self-guided tours, and automation are gaining traction, but rising costs—especially insurance and utilities—can be a speedbump for modernization.

Industry pros like Calynne Oyolokor, Senior Vice President of our Multifamily Rental Division, help owners make resident-focused upgrades to stay competitive and future-ready. Her insights were featured in an article published by the National Apartment Association.
 

"We help clients reduce operational costs through energy audits, preventive maintenance and vendor negotiations. Simultaneously, we guide long-term financial planning to ensure communities are equipped to handle volatility without compromising service or amenity quality. It’s about achieving sustainability both environmentally and financially."

— Calynne Oyolokor, Senior Vice President | Multifamily Rental Division

   

Maintaining warm-weather amenity spaces involves more than dumping the occasional bag of chlorine in the swimming pool. ConnectCRE recently chatted with Athenes Bauza, business development director at FirstService Residential, who discussed the value of continuous, thoughtful oversight of seasonal amenities. 

"Often, properties leverage existing building staff to maintain and manage amenity spaces to control costs. As a result, property teams are spread thin. Additionally, this requires building maintenance workers to handle tasks they may not have been trained for."

— Athenes Bauza, Business Development Director | New Development & Multifamily Rentals

 

By proactively upgrading and maintaining amenities, building owners and third-party management companies can boost resident satisfaction and remain competitive in the rental market. For Connect CRE, and CRE MarketBeat, Athenes Bauza, Business Development Director at FirstService Residential, shares how this is especially true in the summer for tenants seeking outdoor comfort.

"Management and ownership would do well by analyzing resident amenity access data to determine higher in-demand days and times. With that information in hand, promotional efforts could be used to help move traffic to low-demand areas."

— Athenes Bauza, Business Development Director | New Development & Multifamily Rentals

 

Many boards struggle to get residents to attend for annual meetings. In Cooperator News, Maria Hurst, New Development Group vice president, shares best practices for improving attendance, meeting structure, and achieving quorum.

"The prep is the most important part. Most boards meet once a month regularly throughout the year, but sometimes you just can’t fit everything in. Discuss with your managing agent, super, and board what’s happening in the community so everyone is privy to things they may not have been aware of previously. You want to provide as much information as possible."

— Maria Hurst, Vice President, New Development Group 

 

City agencies are considering a 3.7% increase in water rates. Co-op and condo boards will need to incorporate the rate increase into the annual budget process.

Keith Werny, CityLine Division president encourages his boards to be proactive and explore solutions that improve efficiency and reduce consumption.

"If your building has a boiler or cooling tower, another clue the building is wasting water is the amount of chemicals being used for water treatment. Building management systems, which typically include a range of sensors and controls, will add another layer of scrutiny."

— Keith Werny, CityLine Division President 

 

The term ‘diversity’ encompasses an expansive range of demographics within a population, from ethnicity, age, gender and orientation, ability, religion, and socioeconomic status to culture, language, and personal lived experience. In Cooperator News, Keith Werny, CityLine Division president, discusses how FirstService adapts to meet the specific needs of the boards and residents in their managed properties.

"Our endgame is to be a trusted advisor to the boards we serve. That goes beyond building budgets and compliance."

— Keith Werny, CityLine Division President 

 

Starting October 6, 2024, curbside composting became mandatory for multifamily properties across New York City, which created challenges for some boards and building owners. In an article by New York Post, Stephanie Cardello, vice president of compliance, shares how some buildings have grown to embrace and support this new requirement.

"We manage a 16-floor condo building in Gramercy. In four days, the composting bin was full. People were really into it. Once mandatory composting kicked in, they asked for a bin in every compactor room. So now there are 16 bins, and we have to make sure the staff has time to empty those bins."

— Stephanie Cardello, Vice President, Compliance 

 

Compliance with local laws is a crucial part of a board’s duty to maintain safety and avoid costly fines from New York City agencies. In an article by Habitat Magazine, Keith Werny, CityLine Division president, and Stephanie Cardello, vice president of compliance, share how FirstService helps boards and building owners stay ahead of compliance deadlines, education programs for property managers, and the value of automated compliance platforms.

"SiteCompli collects our compliance data and puts it into a nice, neat web portal. Then we adapt it into Excel spreadsheets and Smartsheets, and from that we manipulate the data to create a digital dashboard. Each manager can access their properties and easily toggle through the dashboard for each of their addresses."

— Stephanie Cardello, Vice President, Compliance 

 

"If there’s something that’s required by a lot of our buildings, we can use our size as leverage. For example, with Local Law 157, which requires the installation of natural gas detectors near all gas appliances in residential buildings, we can see what products are out there and try to get the best pricing available. Then, we give those options to our managers and boards."

— Keith Werny, CityLine Division President 

 

Condominium and cooperative boards must comply with the Corporate Transparency Act by filing beneficial ownership information with the Department of the Treasury's Financial Crimes Enforcement Network by January 1, 2025, or face penalties. Ben Kirschenbaum, Vice President and General Counsel for FirstService Residential New York, discussed how our legal and compliance teams are helping boards satisfy their requirements.
 

"This is something that FirstService is doing nationally, because this is not just a New York issue. It affects homeowners associations, co-ops, and some condos across the country."

— Ben Kirschenbaum, Vice President and General Counsel