A co-op management company for the work behind board decisions
From financial reports to building repairs, we coordinate the work.
For co-op boards in New York City, the Boston metropolitan area and Washington, DC, Bridge takes on daily administration, from maintenance scheduling and vendor follow-up to financial paperwork.
1.2M Sq Ft
Managed
900+
Units
Since
2016
5+ Year
Clients
Bonded & Insured
Property management services
As your co-op management company, Bridge handles daily administration while your board retains its responsibilities. Our co-op property management covers financial reporting, building operations, board support and resident assistance.
01 / HANDS-ON ATTENTION
Board support
Bridge assigns a dedicated account manager to each building and averages four buildings per manager across its portfolio.
What does a co-op management company do for the board?
Bridge Property Management coordinates financial reporting, building operations, board support and resident assistance for co-op boards, while the board keeps its decisions. Every board inquiry receives a reply within one business day, and boards meet with Bridge at least once a month.
02 / TRANSPARENT REPORTING
Financial management and reporting
We bill and collect co-op maintenance charges and pursue arrears. We also prepare operating and capital budgets with your board, including the revenue needed to balance them. Financial reporting covers:
Budget comparisons: Monthly revenue and expenditure against budget, showing the current month and year to date
Financial statements: Balance sheets, income statements and cash-flow statements
Supporting records: Check histories, bank reconciliations, and accounts-payable and accounts-receivable reports
Board members also have AppFolio access to the building's finances.
03 / PROACTIVE MAINTENANCE
Maintenance and building operations
Bridge schedules and coordinates building care, including the work of outside providers:
Visits and inspections: A weekly visit to every building, seasonal inspection schedules and completed inspections recorded in a historical physical-condition log
Maintenance and staffing: Preventive and corrective maintenance coordination; building-staff placement and management on your board's behalf
Vendor work: Scopes of work, requests for proposals, at least three bids for non-emergency work, and comparisons on a consistent basis
Follow-through: Contract negotiation and tracking vendor performance and compliance
We coordinate the outside providers needed for building work, including maintenance, security and engineering specialists.
04 / SUPPORT 24/7
Resident assistance and critical issues
Boards and residents can reach Bridge by telephone 24/7.
We resolve critical building issues within 24 hours. A critical issue is one that creates an immediate threat to resident safety, habitability, building security, essential building services, or continuing property damage.
The resolution commitment applies to those critical issues. Routine board inquiries receive a reply within one business day.
Administration for major work and transactions
Bridge also handles administration for projects, transactions and specialist work.
i.
Capital projects and planning
Bridge handles:
Managing the long-term capital plan
Presenting funding options to your board
Bidding major replacements such as roofs, elevators and heating, ventilation and air conditioning (HVAC)
Administering project contracts
Every building receives a five-year plan, reviewed twice per year. We bring in reserve study analysts, engineers and architects as needed, and owner's representatives on large projects.
ii.
Sales, sublets and refinancing
Administrative support for the relevant transaction includes:
Assessment and violation checks
Applicable resale or estoppel packages
Ownership-change processing where relevant
Outside title companies, closing attorneys and appraisers provide their specialist services.
iii.
Compliance, energy and insurance
Bridge handles compliance coordination, utility data collection, benchmarking filings, conservation programs, insurance renewal calendars, vendor certificates, loss reporting and incident tracking.
In New York, Local Law 11 coordination can include engaging the inspecting engineer, scheduling the inspection and coordinating filing.
Work reserved for licensed professionals is performed by outside specialists.
Service scope depends on the building, project or transaction. Specialist-service scope and fees form part of the management proposal.
ACCOUNTABILITY
Operating standards you can check
Manager workload: Four buildings per manager, as a portfolio average
Building visits: Every week
Board meetings: At least monthly
Board inquiries: Reply within one business day
Telephone assistance: 24/7 for boards and residents
Critical issues: Resolved within 24 hours, as defined above
Non-emergency work: At least three bids
Five-year plan: Every building; reviewed twice per year
Tell us about your building and the management scope you need.
COMMERCIAL CLARITY
Set the management scope and fee for your co-op
The property management and administration fee is a flat monthly amount for each building, scaled to its size. Third-party charges, including lawyers, engineers and contractors, are separate.
The management proposal sets out the reporting, building care, board support and operating commitments included in the appointment, together with specialist-service scope and any separate charges.
Tell us your building's location and size, current management arrangement and proposed scope.
HAND OVER THE WORK WITH THE BUILDING'S HISTORY
Taking over your building's management
For a self-managed co-op or one appointing a new company, the handover to Bridge covers four areas: the building's history, financials, open problems and staffing. A transition typically takes about two months.
Tell us about your current arrangement and the work you want Bridge to handle.
Who we serve
Boards & associations
Owners & residential buildings