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How To Run Your Building! For Co-ops and Condos
Whether you've served on your co-op/condo board for a long time, or just started, there are a myriad of professionals you will interact with and learn from. In this series, Habitat Magazine editors interview the leading New York property management executives to find out what works, what doesn't and where board challenges lie. You'll learn valuable insider tips and resources for solving the myriad of problems that you might face while governing your building.
How To Run Your Building! For Co-ops and Condos
Inside a Co-op's Insurance Nightmare and Remarkable Recovery
If your building was suddenly hit with a 400% insurance premium hike, who do you turn to? That was the question facing a Queens co-op after a devastating fire. Vik Shingwani, a property manager at First Management Corporation, reveals how strategic management helped reduce their renewal from $750,000 to $510,000 — still high, but a significant improvement. Shingwani offers practical insights on navigating catastrophic claims, managing affected residents, and implementing preventive measures that insurance companies actually respond to. Habitat’s Paula Chin conducts the interview.
How To Run Your Building: For Co-ops and Condos
