When sponsors set up new condominiums, they use boiler plate form documents, including those used for house rules. House rules are the general rules regarding how the condominium will be run so that everyone lives in harmony. They typically have provisions saying that bicycles cannot be left in the hallways and notice must be given before any moves. However, once the condominium becomes active, they usually find that the house rules they were given are too basic and they need more and stricter rules. Thus, it is common for the board of managers to retain legal counsel to redraft them.
I find when I work on redrafting these documents, it is a collaboration between me suggesting topics and ways of handling issues and the board advising me of issues of particular concern to them. Certain topics are so controversial that a balance must be struck in handling the issues to try to avoid litigation going forward. Topics with that kind of potential usually involve pets and fines for various failures to follow rules. Aggressive barking dogs can be a real issue in some buildings with unit owners in fear for their lives. Some buildings try to create rules and others impose bans on certain topics.
Renovations can be controversial since people buy into condominiums because they think they will have fewer rules. However, as problems arise, many condominiums find themselves enacting rules more and more like those in co-ops. Some buildings have so many subtenants in them that they have no sense of community. Sometimes when the unit owners do not pay common charges, they have difficulty contacting the actual unit owners.
Drafting new house rules is a process that involves a team.
C. Jaye Berger, Esq., is the principal of Law Offices C. Jaye Berger, New York, N.Y.
Moorestown, NJ Brennan Investment Group (Brennan) completed the recapitalization of two portfolios containing 22 buildings and totaling 1,176,122 s/f in Moorestown, and Nashville. Notably, the transaction marks Brennan’s third
You have a right to be concerned. I am always surprised at the companies that will negotiate the price of their new facility down to the last dollar, without thoroughly analyzing their
There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
Walk down any New York block this year and you can feel it. The sidewalks are crowded, the storefronts are lit, and the energy that defines this city is back at full volume.
Artificial intelligence (AI) is beginning to help transform lending by enhancing decision-making, improving risk management and streamlining operations. With AI-powered tools that analyze vast amounts of data, lenders are able to assess borrower creditworthiness more accurately and efficiently. AI can evaluate a wide range of factors,