With the cost of building projects getting more expensive each year co-op and condo boards need to anticipate owner concern. Here, Peter von Simson, CEO of New Bedford Management, suggests it's well worth the time for board directors to discuss current and future projects - and the potential finances involved in tackling them - with apartment owners so they can plan accordingly.
How To Run Your Building: For Co-ops and Condos
12/06/23 • 10 min
How To Run Your Building! For Co-ops and Condos - Peter von Simson
Transcript
Paula Chin: Welcome to Inside Track, a conversation with New York's leading property management executive. I'm Paula Chin with Habitat Magazine, and my guest today is Peter von Simson, chief executive officer at New Bedford Management. At some point, it's something every board has to do and something it dreads: delivering bad news to shareholders that their costs are going up, in the form of maintenance hikes or assessments. But there is a right way and a wrong way to do it, a
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