Don't Let Your Next Construction Project Bankrupt Your Building

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If you're facing a major renovation, some crucial information could save you thousands of dollars and months of headaches. Attorney Lisa Radetsky, partner at the law firm Phillips Nizer, reveals why standard construction contracts are stacked against building owners, and how New York's recent retainage law changes have made protecting your building even trickier.

Learn the hidden pitfalls of change orders that always increase costs, never decrease them, and learn why facade projects almost inevitably require expensive modifications. Radetsky explains the critical insurance requirements that most boards overlook, including New York's unique Scaffolding Law that makes building owners liable for contractor mistakes. She also shares practical strategies for keeping projects on schedule, from financial penalties to completion bonuses. Habitat's Emily Myers conducts the interview.

The business of running a building is demanding work that requires making endless decisions — some that can quickly lead your board into a quagmire of legal difficulties. Legal Talk interviews New York's leading co-op/condo attorneys to find solutions, and get some guidance, on these challenges. For more co-op and condo insights, sign up to receive Habitat's free newsletters or become a Habitat subscriber today!