Condos and co-ops have complex financial management needs
- Bill payments
- Payroll processing
- Invoices and collections of association fees and assessments
- Bank statement reconciliation
- Monthly and quarterly financial statements
- Budgeting and financial planning
- Federal, state and local tax returns
- Forms 1099 for vendors
- Representation in IRS, New York tax, Labor Department or workers’ compensation audits
- Board meeting presentations and regular communications
- 3rd party board election inspections
- New York City coop/condo tax abatement filings
- Energy benchmarking filings
- Contract review
- Unit closing process management, including:
- Completing bank questionnaires
- Acting as liaison with attorneys, brokers, purchasers, sellers and board
- Preparing right of first refusal letters
- Working with new owners and scheduling move in, and more.
Our services are designed to keep you informed year-round while saving you money, time and frustration. Even major endeavors such as audits are easier (and less costly) when you have an experienced CPA ready with detailed records and clear accounting. With Condo CFO on your team, you don’t have to worry; we make living in your building a pleasure, not a struggle. Contact us today and learn how we can partner with your condo or co-op association.
Felix has played a major role in setting our building financials on the right path! When we initially engaged Felix, our building’s finances were extremely disorganized, and the Board needed his expertise to undergo a major assessment of the current financial status and a long-term strategy for the building.
Felix is very knowledgeable. He is thorough and to the point – he makes sure he solves the issue. He lets us know if something comes up and is always prompt to respond. Felix’s services have helped our building manage expenses, build reserves, and keep maintenance fees unchanged for the last nine years!
Whenever someone mentions their tax problems or tax situations to me I always recommend Felix. With Felix you can ask as many questions as you like; he is always there for you. He has a vast knowledge of accounting and business, and he is a very honest individual.
Condo CFO has been a complete game-changer for our building. Prior to finding Felix, we fumbled our way through so many different management companies and our finances were a disaster. (Sadly I’m sure we lost a good bit of money along the way too.) Felix came in and straightened it all out!
252 West Owners Corp is a six-unit self-managed brownstone co-op. Over the years, self-managing our co-op had become too much for our small group. We are very fortunate to have contracted with Felix Rozenbaum of Condo CFO to be our outside financial manager. Over the past three years, he has become a vital, valued part of our co-op.
He is fantastic. Every time I have a problem, big or sometimes small – anything – I will call Felix. He shows me how to do things that I didn’t know how to do or was doing incorrectly. He cares about his clients; he explains and shows how they have to manage to be within the law.
Managing our small COOP’s finances had become increasingly time-consuming. We didn’t want the expense of a full-service management company, and Felix fit the bill perfectly. He manages everything very efficiently and set up the system online so we retain a clear view of current finances and are part of the bill approval process.