2013 February
Focus on... Board/Shareholder Relations

 The Cooperator’s annual Co-op & Condo Expo, which is now in its 26th year, is the premier event for education,  networking and learning all you need to know about managing and maintaining  co-op and condo properties in the Greater New Yor…

Can’t we all just get along? It's a million-dollar question. When someone moves into a community, they often look for the friendliness and camaraderie that living in a co-op or condo association brings. But with many personalities often…

 While the New York City housing market has not suffered as much as in other  parts of the country, there are some new construction condominiums that hadn’t sold as much as the developer had hoped. That’s why a recent trend in condos in th…

 Social media is a phrase that has disparate meanings depending on the  demographic. While those 60 and older might say email and websites are social  mediums, those younger consider these to be otherwise antiquated preferring  texting, Fa…

 Working in groups can be a challenge. Working in groups when people’s homes—and possibly their life savings—are involved can be a far greater challenge. It’s one faced every day by those brave souls who volunteer to serve on their co-op  …

 With multifamily buildings, who is in charge of the property and how well those  people are trained are critically important factors in the successful operation  of the community. Board members are a part of this management class, which i…

 It’s the same dilemma that single-family households across the U.S. are facing:  What bills need to be paid immediately and what bills can wait? And should we  stretch ourselves thin, taking more out of our bank accounts to pay for privat…

 Time was, if you said that a co-op or condo building was 'going to the dogs,' it  was a bad thing. These days however, that's not always the case. According to  the American Pet Products Association, 39 percent of all U.S. households own …

 While a building’s facade might draw the eye initially, it’s usually the first employee a visitor encounters that forms a lasting  impression. And for many condominiums in New York City, the resident doorman  holds this coveted, all-impor…

 As the old adage goes, one bad apple can upset the apple cart. The same theory  holds true for residents who choose to ignore bylaws or house rules, even if  they are well-intended and in place to serve the greater good of the community. …

 While residents may breathe a sigh of relief when winter and its piles of snow,  slushy puddles and blasts of arctic air finally exits the scene, co-op and  condo buildings can’t always shake off the ravages of the season so easily.   …

 Recently, the Appellate Division First Department, in Fletcher v. Dakota, Inc.,  involving a shareholder in The Dakota, a historic luxury co-op on the Upper  West Side, held that the business judgment rule does not protect individual  con…

 There are a number of consultants out there that are “pretending” that they can prepare the energy audit and energy efficiency reports required  by Local Law 87.    Local Law 87 of New York City's Greener, Greater Buildings Plan re…

Q We are having a major problem with our board president and vice-president. We  have a seven member board, in which one of the directors has asked to see a  list of bills paid to date and other board inquires. He was told that he is not …

Q I believe that owners have a fiduciary responsibility to the association, as  they are held in a public trust of that association just like board members.  The responsibilities and duties of owners in a homeowner association are  outlin…

Q I am an owner of a co-op in Forest Hills, Queens. We currently have a flip tax  of $2.00 per share. The sponsor is pushing to amend this to make it 3% of the  sales price. The sponsor is also the managing agent and they do whatever they…

Q I recently bought a co-op in Kew Gardens, and I am now living what is starting  to seem like it will be a nightmare. When it came to the closing, I was only  told of an assessment of an extra $60 each month, and, while this was a  compl…