—Late Payer
“Shareholders must be given written notice of the imposition of a fee as well as of an increase in the amount of the fee or a change in the applicable grace period prior to the fee’s imposition or any change to it. Such notice should be given at least thirty (30) days prior to the change to avoid any argument that there was insufficient notice given. An increase in the amount of the fee from $25 to $50 is not out of line with what many cooperatives charge. The writer concedes that his or her problem is that he or she can’t pay the maintenance and parking fees within the ten (10) day grace period allowed by the cooperative. The writer should remember that the proprietary lease mandates that maintenance is due by the 1st day of the month and any time given after that for payment is a grace period allowed by the cooperative. While, of course, the writer may try and make special arrangements for his payment to be by the 15th of the month without imposition of a fee, I think it unlikely that the cooperative would consent to avoid setting a precedent of treating shareholders differently and because it would be unwieldy to handle shareholders differently.”
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