Page 9 - CooperatorNews New York August 2021

COOPERATORNEWS.COM COOPERATORNEWS — AUGUST 2021 9 Over 90 years of service to New York Cooperatives and Condominiums. Stay up to date on the latest legal developments by subscribing to our New York co-op and condo blog The Neighborhood www.nycoopandcondolaw.com William L. Brewer Hugh P. Finnegan Ezra N. Goodman 212-808-0700 I Info@norris-law.com I www.norrismclaughlin.com Our service representation of cooperatives and condominiums includes: Call us or visit our website to speak with one of our experienced attorneys • Corporate and Board of Director Governance • Complex construction and financing matters • Government compliance • Sales and transfer including, closings as Transfer Agent • Construction, professional, and service contracts and leases • Litigation in all jurisdictions, including Landlord Tenant cases Norris McLaughlin’s Cooperative and Condominium clients range from small buildings to large multi-building developments. Krista Halpin Gerard Proefriedt Michael T. Reilly Dean M. Roberts Burt Allen Solomon Jodi A. Sokol Sharyn A. Tritto Attorney Advertisement rental market, and are often surprised bors fits into any of those categories? by how different life is when there’s no landlord. For instance, repairs within into a residential community, one should law, or in accounting. The apathy is re- one’s unit must be completed—and paid go in with the understanding that it is ex- for—by the unit owner or shareholder. actly that: a community, and that partici- New owners/shareholders might also lack pating in governance is a part of what you less time-suck. Once people get involved, awareness that they must be involved to are buying into. some degree in managing and maintain- ing the common areas of their property. Jack (not his real name) is president of a 212-unit co-op in Greenwich Village. He has led his building through Hur- ricane Sandy and a fire on the property. He gives a good example of the mindset held by many of the shareholders: “Many residents look at it as the co-op should do this, or the co-op should do that, but they don’t want to take ownership. They’re full of ideas, as long as someone else will ex- ecute it. They want the board to do every- thing—people don’t understand that it’s a volunteer position.” Another factor in the hesitance and misunderstanding around community participation is residents’ belief that they lack the knowledge or experience needed to sit on a board. Many believe that only those in the building with direct experi- ence in related fields—attorneys, accoun- tants, real estate professionals, and archi- tects, for example—are qualified to serve governance is good communication. Once and make decisions on behalf of the com- munity. It’s not an unreasonable thing to that can be put to use, it becomes time in- think—but what if none of your neigh- The simple truth is that when one buys skills are broader than experience in the Like Small Town Living Andy Marks has served as the presi- dent of his New York City co-op for five in getting residents involved has been years. The property is a post-war high in spreading the work out among board rise on the Upper East Side of Manhattan members and committees, so it doesn’t containing approximately 210 units. He all fall on the board members alone. Re- is also senior vice president for business liable communication, making the is- development for Maxwell Kates, a real sues known, and letting people know estate management firm in the city. “Our what opportunities exist to get involved building is kind of like a small town, and and resolve those issues helps otherwise I’m like the mayor,” he says. “First of all, uninvolved shareholders feel more com- everybody is well-intentioned. Our apart- ments are our highest value asset. But Committees are a great way to get people people are busy, and they have a miscon- ception about board service being thank- less and time consuming. Why would you ing the board when a position opens. want to put yourself in that position, and potentially at risk in terms of insurance building who run committees creating and liability? People are reticent of being vibrancy and a feeling of cohesion,” says involved without an idea of how much Marks. “New people are moving in and work it will be. It’s a fear of the unknown.” they are getting involved. It’s more about However, Marks continues, “When community than being a shareholder of a boards are very transparent, I find there is less resistance. Ninety percent of good people realize that they have certain skills vested in adding value to their own units, as well as that of the building. And those ally a fear of the unknown, and the idea that board service will be a huge, thank- though, they find it to be a very reward- ing experience.” Marks says the secret to his success fortable and empowered to contribute. started. They see that it need not be a bur- den, and may be more interested in join- “There are community members in the IMPROVING... continued from page 1 continued on page 10 eral government may be accessed to help meet this financial obligation for indi- vidual owners, and should be pursued.” Indeed, I personally believe that put- ting forth robust, accurate, timely infor- mation was what turned the tide in our community to a more progressive and proactive board. In the intervening years, there has been more interest from new- er shareholders in serving on the board and its committees. That, and a higher participation in elections, has led to an eventual shift in the makeup of the board to one that consists of 11 professional, as- tute, responsible members who represent the community wholly and dutifully. As far as anyone can remember, this year’s election was the first uncontested one in the co-op’s 60-year history—whether that speaks to community apathy or content- ment remains unknown, but I’d like to think it is the latter! Now that I write for the publication that boards and managers turn to for information about needs, processes, ser- vices, and laws related to co-ops, condos, and HOAs, perhaps this article will serve as a primer for other board newcomers— or for existing boards and management companies seeking to create new “board on-boarding” materials themselves. n Darcey Gerstein is Associate Editor and Staff Writer for CooperatorNews.