Legal Talk for Co-ops and Condos
Legal Talk for Co-ops and Condos
Legal Talk by Habitat Magazine
How One Late Payment Can Sink Your Building's Budget
16 minutes Posted Aug 11, 2025 at 5:00 pm.
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Send us a text Every board will have to deal with residents in arrears at some point. But in this conversation, Marc Schneider, managing partner and CEO at the law firm Schneider Buchel, reveals why waiting even 45 days to pursue collections can devastate your building's finances. Schneider explains how communities with 20% arrears can still survive, the legal loopholes that give co-ops massive advantages over condos, and why your governing documents might be costing you thousands in uncollec...