Condominium bylaws serve as the governing rules that dictate how a condo community operates. These regulations cover everything from board elections and maintenance responsibilities to pet policies and noise restrictions. However, as legal frameworks evolve and...
As of January 1, 2025, several significant real estate laws have been enacted in New York, aiming to address housing affordability and availability, streamline development processes and change the economic dynamic of the rental market. These changes reflect the...
On December 3, 2024, a federal court in East Texas issued a nationwide preliminary injunction against the Corporate Transparency Act (CTA), halting its January 1, 2025, enforcement and reporting requirements. While the Department of Justice appealed this decision on...
Renovating a condo or co-op unit in New York City can be complex, often governed by clearly defined guidelines set by the building's board. The board drafts these guidelines to ensure that renovations are carried out by licensed and insured contractors safely,...
An annual meeting is a crucial event for condo associations and co-op boards. It serves as a platform for members to discuss important issues, review the past year’s activities, and plan for the future. Typically, these meetings include the election of board members,...
The short answer is that “flip taxes” are legal so long as they were properly adopted. Flip taxes, also called transfer fees, were often implemented in the 1970s and 1980s. However, a co-op board can only impose a flip tax if permitted in the original offering plan or...
Co-ops and condominiums have historically placed various restrictions on residents to maintain a certain standard of living and community decorum. One of the benefits of community living is being able to establish the rules and polices under which everyone lives. ...
When living in a cooperative or condominium, residents inevitably face special assessments. The boards levy these special fees on shareholders or unit owners to cover unexpected expenses or significant repairs. It's common for owners to react with frustration to these...
We are all seeing the results of climate change as temperatures rise and the weather is increasingly volatile. Changes to reduce greenhouse emissions have been challenging and expensive. Nonetheless, there is little doubt that something needs to be done. As part of...
Any New Yorker who lives in a coop or condo knows that their building's support staff plays several crucial roles. Some become the heart and soul of their building – a doorman providing warm greetings at the beginning or end of the day, a super who jokes around with...
