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New York City First time home buyer and Investor MUST READ! Who Manages the Building part 4 of 5!
Part 4- WHO MANAGES THE BUILDING?One of the most common questions we receive is who manages the building? What kind of track record do they have? What happens if my sink backs up, dry cleaning is delivered, do they return phone calls quickly? As a part of being a first time home owner in a co-op or condominium building in New York City you will be a part of your experience will be influenced by the management company that runs your building. Typically the size of your building will dictate the type of management company that runs it.Doing research about the management company, ask your broker about their experiences with the company's reputation, and if you know people who have lived in a building managed by a particular company will be extremely useful information.There are certain management companies that specialize in running large buildings with hundreds of units. These companies have the experience, infrastrcuture, and are specifically positioned to run buildings with dozens of support staff, maintenance workers, and resident requests. The big management companies typically manage multiple buildings and they have websites where they can be researched. Run a google search on them to see what the residents are ... more
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