BY JOHN KIRITSIS, ESQ., CPA, MBA, MS, JD, LL.M Common Charges Overview: Common charges are fees that condo owners pay to cover the costs of maintaining and operating the common areas and amenities within the condominium building. These charges can include expenses such as building maintenance, repairs, utilities, insurance, and management fees. Common charges […]
Articles Tagged: Condo
Airbnb legal issues for NYC Condominiums
BY JOHN KIRITSIS, ESQ., CPA, MBA, MS, JD, LL.M Short-Term Rental Regulations: New York City has stringent regulations regarding short-term rentals, especially those for less than 30 days. In many cases, renting an entire unit for less than 30 days when the host is not present is illegal, as it is considered a violation […]
Board of Managers : A legal overview within the context of NYC Condominiums
BY JOHN KIRITSIS, ESQ., CPA, MBA, MS, JD, LL.M In the context of New York City (NYC) condominiums, the “Board of Managers” refers to the governing body responsible for the administration, management, and decision-making of the condominium association. The Board of Managers is responsible for overseeing the operation, maintenance, and governance of the condominium property […]