Page 3 - The NY Cooperator August 2019

COOPERATOR.COM THE COOPERATOR —AUGUST 2019 3 DEPARTMENTS: 4 Pulse/Calendar 5 Questions & Answers 18 Service Directory Publisher Yale Robbins yale@cooperator.com Executive Vice President Henry Robbins henry@cooperator.com Associate Publisher Joanna DiPaola joanna@cooperator.com Senior Editor Hannah Fons hannah@cooperator.com Associate Editors David Chiu david@cooperator.com Pat Gale patgale@cooperator.com Staff Writers Michael Odenthal michael@cooperator.com Alan J. Sidransky alan@cooperator.com Art Director Shirly Korchak shirly@yrinc.com Production Manager Aetna Dowst aetna@yrinc.com Vice President of Advertising Tom Christmann tom@yrinc.com Advertising Directors Rick Levin rick@cooperator.com Fred Marks fred@yrinc.com Peter Chase peter@yrinc.com The Cooperator is published monthly by Yale Robbins Publications, LLC, 205 Lexington Ave., New York, NY 10016, (212) 683-5700. President: Yale Robbins, Executive Vice President: Henry Robbins. Subscriptions are available free by request to co-op and condo board members and homeowner associations. POSTMASTER: Send address changes to The Cooperator, 205 Lexington Ave., New York, NY 10016. ©Yale Robbins Publications, LLC 2019. All rights reserved. Application to mail Periodicals postage rates is pending at New York NY. FREE Subscriptions for Board Members, Property Managers and Real Estate Decision Makers. To Subscribe, please visit us at: cooperator.com/subscribe TABLE OF CONTENTS THIS MONTH’S FOCUS: INSURANCE/BOARD TRAINING ON THE WEB: 6 Companies Are Trying to Meet Elevator Safety Deadline by 2020 By AJ Sidransky Report: Amazon’s Bezos Buys NYC Condos for $80M By Mike Odenthal When It’s Time to Evict an Owner or Tenant From a Condo By AJ Sidransky Directors and Officers Insurance By AJ Sidransky At the heart of volunteerism is the notion of doing something for the common good. For many, choosing to live in a co-op or condo community is also choosing volunteerism – specifically, volunteering for board service. But within that sense of serving the common good lurks the possibility of liability, and that’s what directors and officers (D&O) insurance is all about. 8 14 Combatting Kickbacks By Mike Odenthal Running a community association can be – and often is – stressful enough without the added issue of people in a position of power in the community using that position for personal gain in the form of kickbacks. Warranties and Service Agreements By AJ Sidransky As in life, there are no guarantees when it comes to building systems, parts, and components. But unlike life, there are warranties and service agreements to ease the pain when something breaks down, gets damaged, or proves to be defective. 12 September Energy & the Environment October Board Operations/Expo Issue November Building Maintenance December Safety & Security January Management February Board Relationships March Exterior Maintenance April Landscaping, Lawn Care & Curb Appeal COMING UP IN THE COOPERATOR