Boards today face a growing number of regulatory requirements, many of which carry financial consequences if they are missed or mishandled. Filing deadlines, inspections, and enforcement continue to expand, and managing how these obligations overlap has become increasingly complex.
From our perspective as a New York co-op and condo accounting firm, the challenge is rarely a lack of awareness. Most boards know the rules exist. The difficulty lies in coordinating multiple requirements tied to façades, gas systems, boilers, and elevators while still managing budgets, vendors, and long-term planning.
Façade inspections remain one of the most significant compliance obligations. Reports, follow-up inspections, and corrective work must be tracked carefully, particularly when unsafe conditions are identified. Missed deadlines can result in fines, increased scrutiny, and escalating requirements that affect both operating budgets and capital planning.
Gas system requirements under Local Law 152 present similar challenges. Inspections and filings often require advance coordination. When boards wait until deadlines approach, costs increase and scheduling becomes more difficult.
Boilers and elevators add another layer. These systems involve recurring inspections and life-safety concerns. Unresolved issues can quickly turn into ongoing expenses.
Longer-term obligations also demand attention. Local Law 97 financial planning requires boards to consider how emissions limits will affect operating costs, reserves, and future capital needs. Buildings that begin planning early generally have more options and greater flexibility.
Strong documentation and follow-through support co-op and condo compliance and help boards avoid unnecessary disruption.
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