Guidance Issued Regarding the $20 Cap on Application Fees
The New York State Department of State (the “DOS”) has just issued a Guidance for Real Estate Professionals...
Foreclosing Lenders Are Now Required To Pay HOA Or Coop Fees On Abandoned “Zombie” Properties
The New York State legislature enacted Chapter 168, of the laws of 2019, effective August 14, 2019, that am...
Cooperatives Should Obtain Maintenance Guarantees from Third Parties to Facilitate Apartment Sales
In the past, many cooperative apartment Boards approved the sale of an apartment to a buyer with questionab...
Utilization of Surplus Space Requires a Comprehensive Approach
Your cooperative corporation or condominium association has some unused land or space which the Board would...
Coop/Condo Boards - Share the Workload
As anyone who has volunteered to serve on a Cooperative or Condominium Board of Directors or Managers has q...
Rules For Accepting Pre-Paid Rent Or Maintenance – Such Funds MUST Be Segregated!
There are occasions when a tenant, including a tenant/shareholder of a cooperative or a tenant of a condo u...
Key Differences Between a Cooperative and a Condominium
There are several material differences between residential buildings that are created as a Cooperative or a...
How Much Is Too Much? When a Late Fee Becomes Unreasonable
Landlords may not impose a late fee for past due rent unless the lease or rental agreement provides for it....