We just discovered that three of five units in our condo complex still have tentative certificates of occupancy (among myriad issues this condo faces...more on that later)...how do we go about changing their status to permanent? We are in NYC. Thanks.
My 91 year old great grandmother lives in a condo and sometimes walk in the wide hallway with her walker but the managing agent sent a letter to stop her and if she didn't stop they would fine her for...walking in the hallways. Is that legal? the condo book said hallway is for exit and entry to units. but she isn't bothering anyone. She is very upset please help.
Are Property Managers (and their subagents) require to disclose any kind of profit or benefit they might receive from recommending products or services to the Board/Shareholders?
We have an employee of our mamagement company who constantly refers contractors- even though they are most often located 30-50 miles away from our building. A few of the contractors he recommended that the board chose to use, did poor jobs and wound up costing the co-op more money in the long run. Despite this, he still insists we go with his recommendations. I can't help but feel that he is getting some financial benefit out of this. Interested in hearing others thoughts on this.
As the of seller of a co-op my name was not written on the contract with my middle initial as per all of my legal documents. The initial was handwritten in afterward but is not "initialled" in handwriting by myself. Legal and still binding?
The line that I was supposed to sign on the contract has an X beside the line. And, then is blank, it does not have my signature. Only the rider has my signature beside the X.
Does this invalidate or void the contract?
The co-op involved was written on the contract without a period following "Corp".
Does that invalidate or void the contract?
With these omitions and errors would I the seller or the buyer be able to legally cancel this contract ?
Thanks for your advice,
Confused
A shareholder has been approved by the board for renovation work in his apartment. The renovation triggered a gas line inspection, which revealed a leak somewhere in the line. The leak was found to be somewhere in between the shareholder's apartment and the meter in the basement. It is clearly in the walls, somewhere below his apartment and has nothing to do with the work he has done in his apartment. Had he not done the renovation, the inspection would never have been triggered, but now he is asking that the COOP pay to repair/replace the line (which is very expensive). Who is ultimately responsible to pay for the line -- the coop or the shareholder?
My sister's co-op in NYC does not allow for proxy voting. Can By-Laws actually disallow proxy voting? I thought the Business Corporation Law provided for proxies so that all shareholders have an equal chance to be heard in an election that they cannot attend.
If this is true, can they thus be forced to change the By-Laws? Or is changing them unnecessary because it's the law any way?
If it is not the law, how can people who cannot attend a meeting have their votes counted? In one case, due to construction on their property, it was not possible for shareholders in one building to reach the other building where the meeting was being held and thus they were disenfranchised as shareholders. The Board's attitude was, "It's not our problem." But is it?
I'd appreciate your input.
I'm on the board of a co-op in upstate NY (yes, there are a few of us up here). For several decades, we've had one of those horrible laundry contracts (self-renewing, we pay all utilities, receive very small rent fee). The contract has expired and the board as well as shareholder/tenants want to see the laundry become a revenue stream rather than a constant expense for the building.
We have ten floors with a washer and dryer on each floor. Total units are around 130. The tenant/shareholders are mostly young professionals, some elderly, and no children.
We’re just starting our research and have seen the general literature on the web regarding energy efficient machines, “smart cards,” the ruling against "right of first refusal clauses," and the different ways to go: co-op owns machines, co-op has revenue-sharing lease with laundry company.
But what we really need is to hear from someone who’s been there and done it.
Does anyone -
1. Live in a co-op that is happy with its revenue stream from its laundry rooms? How'd you do it?
2. Have experience/opinions on owning vs. leasing of equipment? If you own, how are the machines serviced?
3. Have any experiences, good or bad, with laundry service providers?
We're eager to learn - but there are so few people up here to talk to!
Thanks in advance for your time
Our board president just sent me an email stating my shares and propietary lease are canceled. He also states he is going to sell my shares at auction without my participation.
How many ways is this wrong?
In a Coop, who pays for an inspection or the remediation of an infestation of a units(s)? Also do you inspect prior to a sale, after a sale or both?
With the terrible events in Japan are unfolding before our eyes, I am reminded that my co-op complex reviewed our earthquake insurance coverage last year and found that it only covered 10% of the complex's value. After discussions with the Board, we decided to increase that to 100% at very little extra cost to the shareholders. Our complex was built in the 1950's and while it has some iron supports, I am sure that even in a small quake, we would suffer major façade repair, at best.
Go to this site to see recent earthquake activity near NYC: http://www.ldeo.columbia.edu/cgi-bin/quake.cgi
Full disclosure: I work for an insurance company in their Pension area but not for the one that insures our complex.
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I will not get into the general physical fitness of your grandparent or if the person walks alone or under supervision in the event the person were to fall. My questions would be directed (1) How long does the grandparent tend to walk in the hallway to exercise? What floor does the person live in? Does the person get the mail or throw the garbage or does the laundry to allow the person to be visible by other residents and in other areas of the building? Is there a chart of fines used by the condo in which walking, playing or running in a hallway would be fined? Does the condo have a gym where your relative can exercise?
I would try to address the Board with a request. Mention to them that the grandparent be allowed to walk the hallway as a way of exercise for X amount of minutes, she is more confined than other residents and you would be asking for their consideration.
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