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At one time or another, every condominium corporation has to spend money on replacing equipment or making major repairs. Whether that means replacing a roof, installing a new ventilation system or any other big-ticket project, they are a necessity. But how should your condo corporation pay for them?

It’s that time of year again – budget season is upon us. You know the things to consider when creating your budget, but what drives your process? Are you focused on achieving a particular vision for your community? Avoiding conflict in the community? Solely looking to avoid increasing dues/contributions?

Keeping your condominium corporation’s finances healthy is much like keeping yourself physically fit. The key is to make smart choices and avoid over-indulgence.

As community managers begin property inspection, they note the necessary repairs for winter damage as they make their rounds through the community. T

For most people selling a condominium, it is important to stand out from the competition in the real estate market, have a quick sale and obtain the best possible price. But how do you do that? The way your property is presented to potential buyers makes a big difference. Consider these tips to help you achieve real estate sales success.

It seems innocent, but a surprising number of balcony and backyard fires are unintentionally started by disposal of smoking material in a potted plant or planter box. In a condominium environment this can have, and has had, disastrous consequences. And it's not just a summertime problem.

Reserve Fund Studies are based on the assumption that components will reach their maximum useful life. However, if a preventative maintenance plan doesn’t accompany your reserve study, it’s highly unlikely some components will ever reach their maximum useful life.

We can all agree there are many important elements to a housing structure, but your roof is probably the most important. Changing temperatures, snow accumulation, large amounts of rain, ice dams and high winds can all cause major damage to condominiums, townhomes and single-family homes. These harsh weather conditions can create all sorts of problems, from minor leaks to major cave-ins that can cost a condominium corporation thousands to repair.

Safeguarding a condominium corporation’s operating and reserve funds is one of the main fiduciary duties of all board members, not just the treasurer. This means that boards must protect the financial interests of the corporation and its members by making sure all funds are properly managed, invested and protected.

What are your property manager's responsibilities? Find out if they have what it takes. Upcoming Condominium Management Licenses and more.

FirstService Residential and FirstService Financial work in tandem to help our clients successfully finance capital improvement projects and save money without compromising quality of service.

Is your building prepared for Local Law 152 gas piping inspections? FirstService Residential recommends getting ahead of schedule to avoid unforeseen deficiencies and costly fines.

For New York City co-op and condo boards, virtual annual meetings are the new normal. FirstService Residential is here to help make your transition as seamless as possible.

FirstService Residential managed properties have access to the tax certiorari experts at Goldberg Weprin Finkel Goldstein LLP, the premier firm in this specialized field.

FirstService Residential has invested substantial resources to facilitate each of our managed properties with facade inspections and is here to help you navigate the many intricacies of FISP.

There are valid reasons to raise assessments, but in some cases, you may be able to go a different route. Here are four strategies to save your HOA money and keep assessments stable.

Great capital improvements improve property values. Read on to see the three ways to pay for them and the pros and cons.

FirstService Residential has helped boards and building owners save millions of dollars in energy costs, in part, through our Energy Aggregation Purchasing Program.

Around the world, the property and casualty insurance industry experienced record losses from 2016 to 2019, and consumers are now feeling the effects on both a macro and micro scale.

Robust automation software can help boards and building owners in New York City satisfy local law compliance deadlines and inspection cycles.

Local Law 97 impacts roughly 50,000 buildings across the city, a majority of which are multifamily residential properties.

FirstService Residential recommends that all boards and building owners consider the installation of EV charging stations and incentives available through NYSERDA and ConEd.

With an effective reserve-fund strategy, boards can properly plan for unplanned equipment replacements and repairs to building systems and facilities.