The pandemic has had a profound impact on the ability of many shareholders, unit owners, and commercial tenants to pay their monthly fees and rent. This has created challenges for co-ops and condominiums in need of these funds to address the rising costs of running a building and addressing the new COVID-related challenges. With the moratoria on evictions and foreclosures starting to expire and new laws having been enacted to protect tenants, the question of how to collect monies owed while navigating these new requirements and restrictions is one that boards must understand and address in order to uphold their fiduciary duty. This webinar will explain the different rules for co-ops and condominiums when it comes to collections, update attendees on the current status of court proceedings, brand new legislation and offer expert guidance on late fees, arrears, payment plans and using security deposits to cover back rent.
Stewart Wurtzel has represented cooperatives and condominiums in the NYC Metropolitan area for over 35 years. He has written many articles and been quoted extensively in matters involving co-ops and condominiums.
Leonard Khandros
Partner, Tane Waterman & Wurtzel, P.C.
Leonard Khandros is a partner in the firm’s servicing and transactional practice. He advises co-op and condominium boards on corporate, compliance, and transactional matters.
Andrew Stern
Partner, Tane Waterman & Wurtzel, P.C.
Andrew Stern is a counselor and litigator. He advises boards of co-ops and condominiums as they face the evolving challenges of New York real estate.
