Property Management Blog

Hi, Adam Jernow Wayfinder Property Management on-site at one of our high-end loft condo building clients in the late winter. 

The New York City Department of Finance likes to make sure that its records for Condos and Coops are all up to date. So they send out this scary letter to Condo and Coop unit owners, and it reads at the top in bold. Take Action Now to keep your property tax abatement with an exclamation mark, which is pretty rare for a government document. 

Now, this letter has riled up more than one Condo or Coop unit owner, and the action to take is to have your property management firm fill out this Condo or Coop abatement renewal and change form. It's really not that difficult, however, without it, new owners won't receive the condo and Coop tax abatement. That is especially true if you recently bought a sponsor unit or if the seller of your apartment was renting out their apartment in the past. And the opposite is also true. If however, you recently bought into a building, then we need to strongly recommend that you call your property management firm or us and have them affirm that you are signed up to receive this price property Tax Abatement. 

Please let us know if we can help you.