A transparency rule can change who gets the keys. We sat down with Tim Foley, CEO of the Building and Realty Institute, to trace how Westchester’s co‑op timeline and “reasons bill” altered admissions, sparked more investigations, and reshaped risk for boards, buyers, and sellers and what New York City can learn before moving forward.

Tim walks us through BRI’s wide lens on housing from builders and developers to co‑op and condo boards and the cost pressures squeezing every corner of multifamily: insurance premiums jumping 50% to 100% in some cases, reinsurance costs that won’t quit, and a legal climate that keeps carriers away. We dig into why the scaffold law’s absolute liability standard drives pricing, how fewer insurers mean less competition, and why a state‑backed reinsurance pool could steady the market. Then we connect the dots to climate resilience: targeted incentives for retrofits could lower losses, reduce utility bills, and ultimately help bend premiums down.

On admissions, we break down how Westchester’s system actually works: strict timelines, standardized rejection forms, mandatory fair housing training, and posted financial preferences for income, assets, credit score, debt‑to‑income, and financing percentage. The intent is clarity. The impact has been complicated. When exceptions to those financial preferences trigger suspicion, boards retreat from flexibility, rejections rise, and routine denials can become months‑long investigations sometimes with insurers pressuring settlements even when the facts favor the board. You’ll hear real cases, data trends, and the practical steps that can make the process fair and workable: define objective baselines, document compensating factors for exceptions, streamline enforcement for technical errors, and protect privacy.

If you care about co‑op governance, fair housing, and the hidden forces driving affordability, this conversation offers a grounded playbook for policy makers, boards, and residents. Enjoy the episode, share it with your board or building community, and tell us what you think. Subscribe, leave a review, and send this to someone who should hear it.