In: Brooklyn Property Management
When Local Law 152 of 2016 for periodic gas testing came out in 2016 all of us in the property management world were not sure how it would be set up, tracked and enforced by the city. Recently, we gained a lot more clarity to which buildings are subject to the testing in certain years and what the testing entails. (more…)
August 23, 2016
Board Members: Create A New Email Address For Board Business
Are you on the Board and using either your personal or work email address to conduct Board business? If so, this may be a bad practice that can affect your personal and work lives. What do we recommend? Each board member should set up a brand new email address specifically for all board related items.
Between the years of 1992 and 2013 buildings that carried an assessed value of less than $40,000 were eligible to file for a J-51 for renovation work that qualified for the abatement. In 2013, the limits were tightened to an assessed value of $30,000 or less, leaving a large chunk of middle-income buildings in the lurch when it came to receiving abatements to offset the very expensive work that they were doing.
In what can be a sign of things to come in the future of New York City’s continuing fight against Airbnb’s short-term rentals, the New York State Senate recently passed a bill that would make it illegal to advertise any short-term rentals (short-term is classified as anything less than 30 days) for entire homes on their website.
The New York City Water Board has unanimously approved a 2.1 percent increase in the city’s water and sewer rates, effective July 1, 2016.
Many buildings, both large and small, manage their properties in-house, without a professional management company involved. These buildings can be cooperatives or condominium complexes (or a mixture thereof). There’s certainly a benefit to self-management; the building saves on the fee that they would pay an outside company, but in some cases the dollars saved are not what they seem to be. There’s an upside to everything, but also a downside. Let’s explore this more in depth.
In the past twenty years, the world of property management has changed but oftentimes, the way in which property management companies manage, has not. There are plenty of companies that are still run by the same executives and they continue to live off of the management style of the 1980’s. To put it bluntly, the use of modern day technology and apps is mostly non-existent and as a company, we’re changing that.
New York City’s Department of Buildings has issued a new regulation for buildings with elevators in 2016. Effective January 1st of this year, the DOB is now requiring buildings to inspect and maintain their elevator machine brake every year. Not only is the brake to be inspected, but the building is now required to document and properly tag the elevator brake.
As per NYC Law any building that was constructed prior to January 1, 1978 is required to send out Lead Paint Notices to occupants each January. Should a child reside in the unit who is under the age of six (6) years old, the building is required to inspect that particular unit at least one (1) time per year, at any time in the year.
February 2, 2016
Should We Collect A Move In Deposit, Fee Or Both?
Buildings suffer through a lot of wear and tear during move-ins and move-outs. For each move, there are always two sets of people who are coming and going and elevators, common spaces and the building staff are all taxed during this time. In addition, residents are sometimes disturbed as their elevators are either taken out completely or are under limited use while the movers reserve and utilize them during this time period. It’s for this reason that many buildings charge something in order to offset the costs that they are absorbing. These charges can be by way of a deposit, fee or both. Depending on your building, it may be prudent to charge both to protect the asset under your care.