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Condo Boards Can Get Burned by Inadequate Bylaws (NY)

/ Owner - August 28, 2021

Purchasing an apartment in a small condominium presents unique problems. Perhaps the most common is the issue of self-management. Often, unit-owners believe that independent management is unnecessary – or too expensive considering the size of the building. But that leads to one of two scenarios: either every unit-owner has to play a large role in governance, or the unit-owners depend on one of their fellow unit-owners to take care of business. In many cases, however, the “manager” is not a real estate professional and, worse, is filling the role for his/her own benefit rather than for the good of the building.   Read the entire article……………………………….

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