Page 1 - CooperatorNews NY March 2021

March 2021 COOPERATORNEWS.COM prefer a collaborative board, one that wants to be there. Collaboration allows for everyone to give an opinion and make a consensus decision, even if it’s not the one I personally recommend. I also like a ‘big-pic- ture’ board—one that’s involved, but not bogged down with minutia. A board should never spend an hour discussing what type of cut owers should be placed in the lobby. I want them to see where we are spend- NEW YORK THE CO-OP & CONDO RESOURCE COOPERATORNEWS continued on page 12 205 Lexington Avenue, NY, NY 10016 • CHANGE SERVICE REQUESTED While residents generally like the idea of community that living in a condomin- ium or co-op provides (that’s why many opt for this type of ownership), few are as excited about the idea of serving on their community’s governing board, or on any of the various committees their board may set up to oversee special projects. As important as long-term supervision of many speci c aspects of community life may be, it’s o en very di cult to nd vol- unteers willing to do their part. Among the factors that in uence volunteering for board service are the time commitment (real or perceived), discomfort with po- tentially being the focus of resident anger and antipathy, and plain old apathy. On the other hand, for those who overcome those obstacles and hesitations, board service can provide a feeling of ac- complishment, a level of prestige within the community, and a way to have a per- sonal hand in maintaining the security and safety of what is likely their biggest nancial investment. The Value of Time Board service is completely voluntary, and the most common reason both co-op shareholders and condominium owners cite for not volunteering is lack of time. It’s not hard to understand why this is; board and resident meetings are gener- ally held in the evening, and while those Condos and co-ops are unique in their management structure, of which there are two levels: the board of the association or corporation, which governs the community on behalf of the unit owners or shareholders, and a hired management agent, who conducts the day- to-day a airs of the property. Of course, some communities go their own way and choose to self-manage, but they are the exception to the rule—particularly in communities larger than 20 units. e question is, in professionally managed multifamily communities, how much respon- sibility and authority does a board delegate to outside management, and how does that a ect how a given community functions? The Spectrum While each and every board is di erent and has its own style, managers report there is a ‘spectrum’ to board styles that ranges from minutely to barely involved. “ ere are two kinds of boards,” says Dan Wollman, CEO of management rm Gumley Ha . “ ey can be auto- cratic and dictatorial, or collaborative. In my experience, more are autocratic—and that has to do with the fact that most owners are ambivalent and apathetic. ey don’t actually want to be on the board, which e ectively leaves one or two active, engaged people on the board to run the building. is is very common. It’s simply the more pervasive style. Personally, I When one buys a private single-fami- ly home, it’s clear who the king or queen of the castle is: the homeowner. When it comes to condominiums and cooperative apartments, however, the relationship between owner and property is a little more complex. While the shareholder or unit owner rules within the walls of their unit, everything beyond the drywall— from the wiring and pipes in the walls to the shared common areas like laun- dry and fitness rooms, to the exterior elements that hold the building together and protect it from the elements—is gov- erned by the community’s board under the aegis of its governing documents, which contain the rules and regulations that cover a far-ranging variety of issues and give the board authority over differ- ent aspects of how the building or asso- ciation is run. Governing documents are themselves regulated by individual state laws and statutes, and at times even local ordinances. The hybrid nature of ownership pre- sented by condominium and cooperative homes gives many owners and share- holders a skewed or incomplete—and of- ten incorrect—understanding of who is responsible for what in their community. This is partly because few purchasers of condominium and cooperative units ever really read the governing docu- ments of the community they’re moving into, and also partly because many are coming from a rental environment and wrongly see the association or corpora- tion board as their landlord—which it most certainly is not. Board Style and Management Hands-on vs. Hands-o BY COOPER SMITH A Look at Board Powers What a Condo or Co-op Board Is … and Isn’t BY A. J. SIDRANSKY Overcoming Apathy Getting Residents Interested in Board Service BY COOPER SMITH continued on page 15 WEDNESDAY, MARCH 24, 10:00 AM – 4:00 PM FREE REGISTRATION: NYC.YREXPOS.COM NEW YORK’S BIGGEST & BEST VIRTUAL CO-OP, CONDO & APT EXPO continued on page 13