Resources
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Our Resources page is your go-to destination for all things property management. Whether you're navigating a management transition or looking to optimize your operations, we've got you covered with a wealth of articles, detailed guides, practical tips, and real-world case studies. From step-by-step instructions to expert insights, our resources are designed to empower property managers
Operational Guides & Best Practices
Building owners and boards often face tough decisions when it comes to capital improvements, investment strategies, and staying compliant with New York City’s local laws and energy regulations. At NYC Best Property Management, we’re here to guide you through these challenges with ease.
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Our operation guides are tailored to help board members and property owners find effective solutions that optimize budgets, minimize risks, increase property values, deliver outstanding service, and elevate the overall living experience for residents. Whether you’re planning improvements or ensuring compliance, we provide the expertise you need to make informed decisions that benefit both your property and its residents.
Overcoming Challenges in Property Management:
Operational Guides & Best Practices
Fire Safety & Emergency Planning
This guide covers essential strategies for enhancing fire safety and preparing for emergencies. It offers best practices for preventing fire hazards, developing evacuation plans, and conducting regular safety drills.​
Evacuation Routes: Clearly mark all exits and have escape routes visible in common areas. Tip: Use color-coded signs for easy identification during emergencies.
Fire Drills: Schedule bi-annual drills to familiarize residents with escape procedures. Step: Post drill times in common areas, so residents are prepared.
Emergency Contacts: Create a contact list with emergency services, building staff, and board members. Tip: Share this list via email and physical copies in common areas.
Communication Plan: Use a mass notification system to provide immediate updates during emergencies. Step: Ensure all residents are signed up to receive notifications.
Operational Guides & Best Practices
Virtual & In-Person Annual Meetings
This guide walks through the process of organizing annual meetings, whether in-person or virtual. It highlights the importance of clear communication, effective agendas, and proper member engagement to foster collaboration and decision-making that benefits the entire community.
Agendas: Send out meeting agendas a week in advance, including key points for discussion. Tip: Use email or online portals to distribute agendas for easy access.
Reliable Platforms: Choose a trusted platform like Zoom or Microsoft Teams for virtual meetings. Step: Test the technology before the meeting to avoid disruptions.
Meeting Summary: After the meeting, send a follow-up email summarizing key points and action items. Step: Include deadlines and responsible parties for each item.
Accessibility: Ensure that the meeting is accessible to all, including those with disabilities. Tip: Provide closed captioning for virtual meetings, or a transcript post-meeting.
Operational Guides & Best Practices
Strategic Budget Planning for NYC Condos & Co-ops
Learn how to develop a strategic budget that ensures long-term sustainability for your building. This guide provides insights into identifying financial priorities, and preparing for unexpected costs while maintaining a high level of service.​
Property Assessment: Begin with a full assessment of the building's needs (e.g., HVAC upgrades, elevator maintenance). Step: Hire an expert to conduct the evaluation and recommend priorities.
Essential Services: Allocate funds first to critical services like heating, water, and security. Tip: Use budgeting software to track monthly and yearly expenses.
Review Past Expenses: Regularly compare actual expenses to the budget and look for patterns. Step: Hold quarterly meetings with board members to assess and adjust spending.
Financial Goals: Set a clear financial goal for the reserve fund, e.g., increasing it by 10% per year. Tip: Use a financial advisor to ensure your goals align with building needs.
Operational Guides & Best Practices
Reserve Funds & Preventative Maintenance
This guide offers practical advice for making smart capital improvements, managing reserve funds, and implementing preventive maintenance strategies to maximize property value, reduce long-term costs, and ensure compliance with local regulations.
Regular Inspections: Conduct bi-annual building inspections to identify maintenance needs. Step: Schedule inspections ahead of time with professional contractors.
Reserve Fund Setup: Set up a reserve fund for future repairs or upgrades (e.g., roof replacement, plumbing). Tip: Follow guidelines from the reserve study to set appropriate fund levels.
Energy-Efficiency Upgrades: Prioritize upgrades like LED lighting or energy-efficient windows. Tip: Research local incentives for energy-efficient projects to offset costs.
Track Maintenance: Keep a digital log of all maintenance activities. Tip: Use a property management software to track work orders and preventive maintenance schedules.​
Transform your property’s future with management designed for long-term success. Check out our offerings in Specialized Support Services.
Articles
Case Studies
At NYC Best Property Management, our mission is to provide exceptional property management services that address unique challenges and exceed expectations. These case studies highlight our commitment to financial stability, emergency responsiveness, and proactive maintenance.
By prioritizing collaboration, transparency, and tailored solutions, BPM has transformed buildings into thriving communities. Each example demonstrates how our dedicated approach delivers measurable results, earning the trust and satisfaction of residents and board members alike.
Responsive & Transparent Property Management During Emergencies
Client: Condo Board | Multiple Residents
Challenge: The building required a management team that could respond quickly to emergencies and ensure ongoing maintenance needs were met.
Solution: Best Property Management's team, led by John Rouse, was always available and proactive in addressing urgent issues. BPM was also known for their transparency and willingness to collaborate with the board to ensure smooth communication.
Results: The team quickly addressed any emergencies, and the building consistently remained in top condition. Many residents, including Kevin Pabst and Luke Burrows, praised BPM for their promptness and dependability. Their responsiveness was especially appreciated in urgent situations, such as plumbing or electrical issues, where they ensured timely intervention.
Testimonial: Kevin Pabst emphasized that BPM “is easy to reach and responsive,” making sure issues were dealt with immediately when they arose.
Improved Financial Health & Stronger Property Management
Client: Coop Board | Multiple Residents
Challenge: The board was struggling with poor financial standing and neglected property management.
Solution: NYC Best Property Management took over the building's management, immediately focusing on stabilizing the finances and ensuring efficient operations. Through strategic budgeting and operational improvements, BPM increased the building's financial reserves.
Results: Within six months, the financial situation drastically improved, and after two years, the coop had a solid reserve fund. Board members felt a sense of relief, knowing the financial health of the building was secure.
Testimonial: Bob Miele, a resident, praised BPM for their "substantial financial improvement" and the development of a small reserve, noting how their management was a game changer for the coop’s financial stability.
Enhanced Building Maintenance & Resident Satisfaction
Client: Condo & Coop Residents
Challenge: The building needed regular maintenance and better upkeep to meet resident expectations.
Solution: Best Property Management consistently ensured that the building was well-maintained, meeting both resident needs and regulatory requirements. Their team was always quick to address maintenance issues and performed ongoing inspections to prevent problems.
Results: The building saw an improvement in its overall condition, with residents noting cleaner common areas and proactive property upkeep. Positive feedback from long-term residents, like Julie Pewitt and Peter K. Simpson Jr., emphasized the substantial improvement in service compared to previous management companies.
Testimonial: Julie Pewitt shared that BPM’s service was “immeasurably superior” to other management companies that had previously managed the building. Peter K. Simpson Jr. added that BPM's proactive management approach made them a "stellar" choice from the start.
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