What is an Annual Renewal and Change Form?

All co-ops are required to file this by February 5th every year to report changes in ownership and even if no new changes.

Steven - Here is the Annual Renewal and Change Form that marym is talking about. Thank you marym for the information!

https://www.nyc.gov/assets/finance/downloads/pdf/coop_condo_abatement/coop-renewal-application.pdf

Thanks, Marym and Marty. Our Property Manager and Managing Agent handle that for us and I think they refer to it with a different name.

In filling out the coop tax abatement renewal form due Feb 15, 2024, on page 2 (schedule B) are we to record *only changes* that have occurred? and not a relisting of the entire roll of owners?

We are a self managed property of a small number of units and for years we have not had to report any changes. One unit turned over last year and so now we are scratching our heads if we only report on the renewal form the one changed item, or if we have to have a line item for each resident even though nothing has changed for everyone else.

We have written into the DOF and have not heard back.

Any thoughts are appreciated, and thank you in advance.

Looking at the form (https://www.nyc.gov/assets/finance/downloads/pdf/coop_condo_abatement/coop-renewal-application.pdf), it appears that you don't need to list any individual apartments. On the first page, right after the INSTRUCTIONS and before SECTION A, it says...

"If you have no changes to report, please check this box. ■
**We will renew the abatement for all of the units that received it last year.** By checking this box, you are confirming that there have been no changes in primary residency, ownership, changes in unit type (for example, residential to commercial), or mergers of units."

Then it looks like you fill out the 4 parts of Section A and the OFFICER/AGENT ADDRESS section below Section A and you're done!

Good luck and keep us posted!

Wow, did I mess that up. I apologize.

Since you do have 1 apartment that turned over, you’d have to list that in Section B.

Do NOT check the box saying you have no changes to report.

You still need to complete Section A and the Officer/Agent Address portion, too.

https://mydigitalpublication.com/publication/?i=725658&article_id=4137037&view=articleBrowser

My understanding is that in order for a new shareholder to receive the abatement, they must first reside in the co-op for one full yearly cycle of Jan 1 through December 31. (Though I am not 100% sure about Jan 1. It might be Jan 5 through Dec 31).

Assuming it's Jan 1...If they closed on Dec 31, 2022, they will have met the Jan 1 through Dec 31 in 2023, so they'd be eligible for the abatement in 2024.

If they closed on Jan 12, 2023, then they will only meet the full 1 year residency in 2024, so they wouldn't be eligible to receive the abatement until 2025.

Steven 424 or any of the knowledgable people on this website - Please correct me if I'm mistaken about the dates.

I believe eligibility for the abatement is based simply on your status on the recording date. January 5th sounds very familiar.

Marty and I disagree on this so you should do further research Ask your MA, and I think the DoF website has information that might answer your question.

Steven424 - Here is the info from the NYC DOF website. Maybe you and others reading this can review it and see how you interpret it.

https://www.nyc.gov/site/finance/benefits/landlords-coop-condo.page

In the REQUIREMENTS section, it states, "You must have purchased the unit on or before January 5 to qualify for the abatement for the upcoming tax year. If the unit was purchased after January 5, you can apply for the next tax year."

I don't think the recording date comes into play but I could be mistaken.

If a new shareholder has closed after Jan 5 of calendar year n, the prior owner's name will be listed for that apt and its shares on the Co-op Tax Benefits Report of fiscal year n/n+1. The dollar amount of the benefit, which a co-op typically distributes or credits no later than June of year n+1, is a benefit to the apt unit - not a person - per the instructions on the first page of the Co-op Tax Benefits Report.

The new shareholder of that unit refers to their sales contract and contract riders to determine whether and how they are responsible to apportion to the seller any of the property tax benefit received from the co-op. The sales contract may state the amount to be apportioned is first reduced by any assessment amount.

You've rolled several questions into one post. Ordinarily, a change to the flip tax requires the approval of a supermajority of shareholders. It's possible, however, that your governing documents give that power to the board. You'd have to check.

Failure to pay your vendors is not "criminal," but it's bad behavior that could lead to legal claims by the vendors. It could also make it harder to engage vendors/contractors in the future.

Almost all co-op by-laws require an annual meeting of shareholders, along with a board election. You may need to engage a lawyer to force a meeting. That would be an expensive proposition on your own; see if you can get other shareholders involved.

Couldn’t the shareholders vote for a “special meeting” and really for an election?

Yes, provided there is the appropriate language in your co-op bylaws. Generally, that's how it's done, but some customized or amended bylaws may contain non-standard language so there is no definite "yes" or "no" answer.

After your review of your by-laws but before you take any unilateral action, I *strongly* advise you (as Carl Tait did) to solicit the support of other shareholders. This group could also form the basis of a slate of opposition board members who run against your current board at the next election.

Good luck!

You're asking questions of a fairly complex legal nature, which can have serious ramifications, as you pointed out. My advise is to bring this situation to the attention of the Co-op's attorney as soon as you can. There may already be board decisions in the records that are affected by the apparent invalid composition of your board.

In a situation like this the only person who should be advising you is your Board attorney.

Good luck!

All s/h receive the same percentage maintenance increase. Since different apartments have different amounts of shares, not everyone will pay the same dollar amount for their maintenance increase. So, if the Board votes a 5% increase, everyone's maintenance will increase by 5%.

The Board is elected to represent the s/h and run the co-op. This includes the right to raise maintenance if they think that's the right financial decision. The Board has strict ethical and fIduciary responsibilities that is supposed to keep them in check. If enough s/h disagree with the way the Board runs things, then other s/h have a right to voice their opinion about the way things are run. They also have the right to run for the Board and get involved in running the co-op.

You're right that real estate taxes have skyrocketed, but so has the price of everything in the past few years due to inflation. Everything costs more, including the prices charged by your plumber, electrician, contractor, etc. Co-ops are also navigating the climate change/carbon emission laws enacted by NYC. That may very well also increase expenses to the co-op.

It's possible that the co-op had some large expenses (roof, elevator) they incurred before you moved in, so they may still be paying those off.

It's important for all s/h, especially new s/h like yourself to look at the big financial picture and not just what's happened in the past year or two. I always felt that you need to look at a 10 year period to review the co-op's expenses and revenues to get a more complete picture of the co-op's financial situation.

As far as potential new buyers requesting to see the last 5 years of maintenance fees, it's important that they also see the last 5 years of financials - to give them a complete and accurate picture of the co-op's finances. There may have been boiler and heating upgrades that the co-op made. These might have cost lots of money now, but will pay off in the long run.

Remember that the Board is responsible for making short term and long term decisions on behalf of the s/h in the co-op. You can also ask Board members why they raised the maintenance fees? Communication is very important, so don't be afraid to ask the Board directly if you have any questions. It's always better to ask the Board than to listen to fellow s/h, who may not have all of the information that the Board has.

Good luck.

NYC property tax bills are available on the public portal: https://a836-pts-access.nyc.gov/care/forms/htmlframe.aspx?mode=content/home.htm.
Concord Village's BBL is 3 (Borough), 86 (Block), 11 (Lot).
The November 2020 quarterly tax payment was $926,173.00 and the November 2022 quarterly tax payment was $1,293,372.22. This is a an almost 40% increase.
Co-ops and condos have been lobbying for a separate tax class as we are currently in the tax class with market rate rental buildings.

How can one add to the lobbying effort

Larry - for starters try accessing the Counsel of NYC Coops & Condos website. https://www.cnyc.com/ CNYCC is one of the largest Co-op and Condo advocacy groups in NYC and can probably point you in the best direction

Wendy - I'm not a co-op lawyer, but I am a commercial litigator with decades of experience and have served on three co-op boards. Mediation is generally conducted by a trained mediator who can professionally evaluate the strengths and weaknesses of each side's position and guide them to a voluntary resolution. Board members would not ordinarily have that expertise. But even if they did, they are likely to be perceived as having conflicts of interest by one side or another. If the dispute involves one or both shareholders violating house rules or the proprietary lease, then the Board's role is to police and enforce the rules. If it is a dispute that does not involve violation of the rules, then the board should stay out of it. But of course, a dispute that disturbs neighbors likely violates the rules.

When you say "full control" could you describe what this includes? There are some aspects of co-op operations the MA should have control over.

I am at my wits end. I have submitted noise complaints, logged dozens of 311 calls, and complained to management since I moved into the coop. A neighbor above me makes an obscene amount of noise for hours in end. The board did nothing until this month where one board member organized a mediation. It was unsuccessful. The burden was on me to prove the noise complaint was valid! It was a disaster and the shareholder continues the noise and managed to deflect in the meeting, appeal to emotions and use ghastlighting. The board states that they can do nothing more at this point , which now emboldens the shareholder. What recourse do I have? Also can the board run a mediation??? Or was this basically invalid? Does anyone know how I can record the noise for future use in court? Phones do not work. Please advise. This is a nightmare. The shareholder even sent another shasrrhikder to my door to intimidate me. The board did nothing.

Wendy - You're not going to like my answer, but from the situation you describe you are probably going to have to hire an attorney.

There are laws and regulations on your side (see "warranty of habitability" for one) but they can be a legal nightmare if you try to navigate them yourself.

If you haven't already done so, start keeping a log (date/time/duration) of each excessive noise incident. There are programs for smartphones that are very good at recording ambient noise. There are also smartphone programs that measure and record noise levels. The one I use on Android is "Sound Meter - Decibel" by Melon Soft.

Put everything in writing you send to the board, the MA, and your upstairs owner. Keep track of every 311 call, especially the tracking number. 311 has a web portal at "portal.311.nyc.gov". Create an account. All your interactions with 311 should then be available online.

But from the non-cooperation and complete disregard for your comfort and well-being, it sounds like at some point you will have to hire a lawyer if you want to stay in the building.

I wish you the best of luck,
--- Steve

Run for the Board and also mention this at the Annual meeting. Contact the President of the Management company about the noise issue if your day to day rep can’t handle it. Also don’t you have house rules regarding noise and if not then it needs to be added.

I live in Mitchell-Lama apartment. It is same situation. President of the board take one side, and ignore and punishment others, witch is serious violation. By roles and regulations 80% of floor must to be covered by carpet, but president and board ignore this. What to do, my neighbor ask.

There are a number of different factors that are assessed in a good vibration management analysis. Which particular type of acoustic anomaly are you concerned about in your renovation/upgrades?

You'll need to consider the transmissibility of vibrations through acoustic materials, the second and third harmonic distortions over a section of undamped wall, the duration and amplitude of each vibration component, etc. This is just the beginning for a rigorous analysis if you are concerned about transonic energy causing any damage or outright destruction to the underlying surfaces.

Please provide a little more detail so we can help.

--- Steve