The common space in your building such us the lobby and corridors do not deteriorate instantaneously, it happens gradually over time. Since we pass through on a day-to-day basis we do not always notice how much our lobby and corridors are in need of a renovation. Someone who has never been to the building or a new managing agent is more likely to notice the need of a renovation. The prospective buyer can exhibit his/her criticism when they make the decision not to purchase an apartment based on the condition of the common space areas. When residents recognize the need for change, this is the first call to action. The individual to start with is your managing agent who typically has a countless deal of knowledge in leading building renovation and can guide you through the required steps
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The Budget Committee – controls the cost of the projected renovation
To determine the cost of the projected renovation. Members of this committee should include unit owners, board members, New York Corridors (will offer it’s knowledge and is willing to measure and give a range of pricing according to the materials being considered). All concepts are discussed, different points of view are articulated, experts are consulted and the results are reported to the Board of Managers at the monthly meeting.
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The Finance Committee – determines how to pay for the projected renovation
This committee should include the Managing Agent, Board of Managers’ President, Treasurer and Board members willing to take part as well as members from The Budget Committee. From this discussion a plan to fund the project will arise, which can include a special assessment, a transfer fee, building loan or using cash on hand. Next is to form the Design Committee.
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The Design Committee – determines the best design within budget while preserving the essence of the building’s style and history
Selection of the designer and design are the main work of this committee and usually involves viewing mock-ups in small sections of the corridors and lobbies in order to get an idea of the look and style, while giving residents the opportunity to add their point of view. Members of this committee should also include the selected designer and New York Corridors to complete any mock-ups..
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The Construction Committee – to select the best renovation company
One or two members from the board of directors, the designer, and the managing agent will develop a contractors’ bid package. Once a bid is accepted and the General Contractor is hired, the GC joins the Construction Committee’s weekly meeting to report on all matters relating to the evolvement of work.
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The Closeout Committee – adds finishing touches to the project and keeps notes for future projects
The Closeout Committee examines the process and records ways to advance future projects based on past experience. In addition, this committee may make some additional purchases such as art, furniture, and/or, or protection detail for the completed work. This will serve as the finish line for the project.
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The Designer/Architect is always in charge
The Board of Managers has hired the designer because of their skill to develop an impeccable design and to certify that the work is being completed in a first class manner, on schedule and within budget. Once the design has been communicated to the residents, it is time to let the professionals do their jobs. The contractor takes the plans and specifications and executes it exactly as the designer planned. We have found that following the designer’s lead and the process outlined above creates the smoothest renovation process to everyone’s satisfaction and pride.
