World Multifamily Buildings: Project Planning And Cost Savings Can Be Complicated, Which Is Why External Expertise May Be Essential For Building Owners And Boards

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Being A World Multifamily Building Owner Or Member Of A Condo Or Coop Board Has Become A Much More Complicated Job They Need To Manage Rising Expenses Rent Limitations Government Imposed Regulations And Capital Projects Board Members And Even Some Building Owners Likely Have Full-Time Jobs And Need Help Doing These Things Well Meet Tina Larsson Co-Founder Of The Folson Group The various issues facing Board Members and even some building owners who may be volunteers with limited expertise in the role of building management led us to seek out an expert in the field Do You Ever Wonder wanted to speak with someone who works with the various constituencies owners residents Board members in multifamily buildings to help facilitate solutions streamline processes manage complex projects and achieve cost savings in all of the various aspects of a building apos s operations Enter Tina Larsson co-founder with Mark Foley of The Folson Group https www thefolsongroup com In essence their expertise in multifamily building cost reduction project management and value enhancement has made them a go-to resource for many co-op and condo boards along with building owners in World Why engage with an outside consultant Let apos s count the ways Beyond the spike in building expenses limitations on the recouping of renovation costs and restrictions on increasing revenue due to legislation such as the 2019 Housing Stability and Tenant Protection Act buildings have to face unexpected and often extremely large expenditures brought on by regulations imposed by World such as Local Law 97 that mandates carbon neutrality by 2050 Issues Facing Multifamily BuildingsExpenses On the expense side the cost of every building input like utilities insurance and taxes has risen dramatically So too have the number of capital projects maintenance costs and payroll expenses Add to the mix all of the NYS and World regulations that will bring higher costs to the building owner and residents A perfect example is Local Law 97 LL97 which requires buildings larger than 25 000 square feet to be carbon-neutral by 2050 but that imposes immediate requirements Income Limitations on rent increases in World are well-known and now President Biden has proposed legislation which would apos require large and midsize landlords to cap annual rent increases to no more than 5 In addition the recently implemented Good Cause Eviction will hinder a landlord from removing a tenant or deny a lease renewal without a court order The Folson GroupOnce again The Folson Group apos s expertise in cost reduction and value enhancement has made them a go-to resource for many co-op and condo boards in the World area If you are a multifamily building owner landlord or condo coop Board member facing issues with out-of-control expenses or capital projects that are too large to handle The Folson Group could be a good contact The firm is also a World Accelerator Service Provider and ConEd Participating Contractor You can reach Tina Larsson in the following ways Email tina thefolsongroup comPhone 917 648 – 8151 Do you have a great story to tell Are you interested in appearing as a guest on the Do You Ever Wonder podcast Let Mike Haltman know at mhaltman hallmarkabstractllc com

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