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Understanding HOA Reserves and Reserve Studies for Homeowners Associations
One of the most important responsibilities your HOA board of directors faces is effectively planning for major common-area repairs and replacements. Whether a costly expenditure is needed in a few years or 20 years from now, it’s the board’s fiduciary duty to make sure your homeowners association (HOA) has adequate funds when the time comes. That’s where HOA reserves come into play. -
Before Creating a New HOA Policy, Ask These 5 Questions
Great policies can help your association run smoothly, enhance the resident experience and improve your reputation. Here are five questions to ask before creating a new HOA policy. -
HOA Policy: Why Consistent Communication Is Key
Learn why effective HOA policy starts with a strong communication plan. -
Don’t Be the HOA Bad Guy: 4 Proven Policy Enforcement Tips
Enforcing HOA policies is nobody’s cup of tea, but having good policy enforcement in place helps improve the resident experience and elevates your reputation. Follow these 4 principles for healthy policy enforcement: -
Reserve Fund, Assessment or Loan: How to Pay for Capital Improvements
Great capital improvements improve property values. Read on to see the three ways to pay for them and the pros and cons. -
Vetting Vendors: A path to success
Replacing a trusted vendor or finding a new one can be a challenge. How can you have peace of mind that the vendors you’re considering are right for you? Follow the tips below to help screen potential vendors and get the best fit for your association. -
Avoid These 4 Condo and Co-op Board Member Mistakes
Many condo and co-op board members make the same four mistakes. Find out what they are and what you should do instead -
Fast Facts About the Tax Certiorari Process in New York City
Everything you need to know about the tax certiorari process in New York. -
Build a Condominium or Cooperative NYC Fire Safety Plan
For New York City residents who call a high-rise building their home, nothing compares to vertical living. But what about safety features? Specifically speaking, in a condominium or cooperative building, fire safety education is crucial. As a unit owner, shareholder, board member or building staff member, are you educated on how to prepare for the possibility of a fire inside your building or your unit? To help educate you on this topic, we’ve compiled some important tips on fire safety and prevention that every single member in your community needs to be aware of. -
Four Ways to Keep Your Building Safe and Clean
Living in close proximity to other people can come with challenges, especially during cold and flu season. -
Commercial Observer-Grading Buildings on Energy Consumption
A new law will require residential and commercial buildings to prove their energy efficiency -
Habitat Magazine-Here Are the First Steps to Cutting Building Carbon Emissions
Buildings are New York City's biggest polluters, which is why the Climate Mobilization Act will require most co-op and condo boards to reduce their buildings’ carbon emissions sharply in coming years. -
Habitat Magazine-Here Are Ways to Pay for Retrofits to Reduce Carbon Emissions
The Climate Mobilization Act, requires buildings 25,000 square feet and larger to reduce greenhouse gas emissions by certain target percentages in 2024, 2030, and beyond. -
How Your Condo or Co-op Can Help with Hoarding Cleaning Services, NYC
Hoarding is a disorder than can be dangerous to everyone in your NYC condo or co-op building. Learn how to handle hoarders in your building today. -
Keeping Your Budget Healthy in the Age of COVID-19
As you begin to work on next year’s budget, it’s important to look for ways to save your building money to offset those unplanned expenses and potential revenue shortfalls. -
How to Keep Your Condo and Co-op Meeting on Track
With many meetings moving to telecommunications platforms like Zoom or GoToMeeting, it’s more important than ever to have a fine-tuned system for keeping your meetings organized and on track. There are steps you can take to ensure your upcoming meetings, whether they’re online or in person are effective and concise. -
Adoption of NYC Local Law 147 Smoking Policy: Memorandum from General Counsel Ben Kirschenbaum
NYC's latest Local Law #147/2017 requires all owners of class A multiple dwellings, including all coops and condos, to adopt a “smoking policy” no later than August 28, 2018. The purpose of implementing such a policy is to outline the requirements of this law so board members may consider how their coop or condo will comply. -
Opening Considerations for Gyms and Fitness Centers in Residential Buildings
Following the release of Interim Guidelines for Reopening Gyms/Fitness Centers, there are a number of procedures boards will need to consider when reopening fitness centers in residential buildings. -
Technology at Home Part 2: Keeping Boards and Residents Safe Online
As board communications become increasingly reliant on web-based technologies, it’s more important than ever to take proactive steps to safeguard the way you share and save sensitive information. -
The Six Secrets to Building Your Condo’s Volunteer Pool
As a board member for your condominium corporation, you know that your community depends on volunteers to operate successfully. However, finding residents who are willing to be on your board of directors, join a committee or help at an event can be challenging. -
Ways to Improve Your Condominium’s Lobby
How do you like to say “hello?” No matter what expression you use, chances are you like to take the opportunity to put your best foot forward and make a good first impression. -
Why Career Changers Should Consider Property Management Careers
Are you looking for a new career path? Why not try property management? Working as a Property Manager will allow you to connect with people to form a sense of community and help enhance their lives as residents. Learn more about how joining the property management industry could fulfill your career dreams. -
Protecting Your Community Association from Fraud & Embezzlement
Fraud can happen with any management company and even in a community that is self-managed. Although there’s no way to ensure 100-percent protection against such an occurrence, FirstService Residential takes considerable precautions to minimize its likelihood.