We haven't had mold removed but got a very thorough report when we thought we might have a problem. We also got recommendations for avoiding getting mold. I don't know if this company does remediation but, if not, Gary will probably have a name for you.
Mr. Gary Jacobs
MOLD XPERTS NY
210 East 68th St., Professional Ste .1H
New York, NY 10065 USA
(917) 886-8135
(800) 282-9102
(garyjacobs@optonline.net)

Thanks, marym

Hi, I know that you're not looking for self-appointed recommendations, but my firm, EBMG, is exactly as how you'd describe what you are looking for.

We're heavily involved in tech, customer service, compliance, building plant oversight, etc.

You can check out my regular podcast: https://podcasts.apple.com/us/podcast/nyc-real-estate/id1316217394

We've been in business since 1996 and manage roughly 100 coops / condos in the five boroughs, with 25+ in Brooklyn.

Please shoot me an email if you'd like to connect - mblevine@ebmg.com

I would shy away from EBMG (Mark Levine) I know a couple of friends who this company manage there Coops. They start off as hands on then they slack off with poor managing and caring about shareholders needs. They can't even handle my friends 2 buildings. Both have over 125 families.
With a building of 400 families you need a company with diversity and man power that can handle all your needs. That will not tax on fees for every little thing that is needed, raise maintenance fees, assessments every year.
I would do research on Managing agents, interviewing and meeting people that the company manage. Check fees, performance, employees they have. etc. This is not an easy task and needs a lot of investigating before you choose someone who can do the best for your building. It is extremely important because you are trusting them in handling all your important needs. I would turn to the Habitat to see all the managing companies, rating, employees and performance. I do suggest you start a committee of board members to do all this research. You'll thank me at the end. Best of Luck.

Hey there, it seems that you're searching for a property management company that brings fresh ideas and new technology to the table with a level of service that stands out. It's important, especially as regulations are continually evolving and technology is transforming how we manage buildings.

With my experience in the industry, I can recommend looking for a company that leverages technology to bring more transparency and efficient service delivery - while addressing your other concerns like CMA compliance. You're looking for a company that has recognized that traditional management methods have become a bit outdated and have made significant changes to improve responsiveness and seamlessly integrate technology in their operations.

I'm working in property management for Daisy, and I can tell you we have several pre-war buildings in our portfolio that have significantly updated their operations since signing on with us. We have a system approach where we combine technology and exceptional service. We offer an app that helps residents do everything in one place and provides board members with real-time financials to see how the building is doing.

At Daisy, we appreciate the value of having an onsite dedicated manager, so we pair that with a team of industry experts who manage all aspects of your building from boiler repair, to resident issues, to board meetings and more. This is just a small part of how we try to fulfill the needs of our clients. You can check us out at www.joindaisy.com to see if our methods align with your vision for your building.

Take this topic very seriously. Every company says what you want to hear, but after 1yr., 5 yrs. where are you? When a management company disrespects your shareholders, there should be a morals clause in their contract. Management gets away with their actions ONLY if the board approves or backs them. I know a management company has many demands on them but if it's too much then close up shop because that is your business. Out of curiosity what management would you recommend? What is considered standard salary for management companies?

Firstly, the right to impose fines must be in the proprietary lease. If it is not, then they are unenforcable.

Secondly, I believe that sidewalks are public. What you should go out and write in chalk is that this is a dumb rule.

But what is the reason to impose such a rule? Was someone writing something offensive on the sidewalk?

You don’t say what kind of fee it is. Is it a capital assessment? Will it appear on your monthly invoice?

Check the prop lease to see if it states that the Board has the authority to impose other kinds of fees. If it doesn’t say it outright, then they may not be able to. I think there’s case law on this.

Maybe an RE Attorney will chime in on this.

Thank you

The product besides being the most advanced intercom system on the market, also has a built in resident notification system. Can send out emergency notifications to everyone in seconds, from anywhere.
www.MVIsystems.com

Thanks Samuel, unfortunately our coop just replaced the intercom system last year. Not sure what company it is but it rings to our cell phones now. Clearly no notifications included.

This should be up to your board and your managing agent, it is up to them to address any problems in the building. Such as water shut offs elevators shut down and have all residence emergency numbers and set up an e-mail notification linked to all shareholders. etc.
This gas was your neighbors fault and your building staff should have had a key to everyones apt. or spare key given to a trusted neighbor. Send an e-mail to your managing agent and your board addressing your concerns and ideas for a future emergency. Good Luck

We use a commercial email distribution service called Mailchimp. Depending on the size of your mailing list, the very basic service will probably be free. It can satisfy all the situations you described above except for real-time notification of a gas leak, and hopefully, you won't have too many of those.

Mailchimp is a robust service and does have a bit of a learning curve, so you might check if any of your shareholders have experience using it.

You should look into the onecallnow.com system. Low cost and always dependable.

For these types of quick communication, I'd set up a building-wide google group to allow for an email to be sent out to everyone at once.

If residents don't have access to email, I'd use a text service, such as Textline, to get out texts from the company or Board.

A 15% increase is certainly substantial, but the co-op's circumstances may dictate that it's needed. Did your co-op issue a statement explaining why they felt a 15% increase was necessary? They should have.

I will also bet that your co-op's property taxes and water bills had tremendous increases this year - like all co-ops in NY - since everyone is home and using water like crazy. Property taxes have skyrocketed in the past 10 years. DeBlasio hates co-ops and look at us as cash cows to fund his pet programs.

Did your co-op face any unusually large expenses this year - like repairs to the boiler and the roof? That may be a factor. Is the co-op facing legal problems that cost $$? Maybe some apartments didn't pay their maintenance due to shareholders losing their jobs in the pandemic.

Did your co-op recently replace the elevator to comply with the new guidelines? If so, that's several hundred thousand dollars.

Maintenance increases should not be evaluated for just one year. That's just giving you a snapshot right now. I feel that you must look at your maintenance over a 10-12 year period in order to properly determine if increases were warranted and if they were excessive. The longer the period that you evaluate, the more accurate the evaluation will be.

What's the co-op's mortgage situation? That could also be a factor.

I recommend that you talk to a Board member and ask for a complete explanation. That will be the only way to find out the real reason.

Good luck.

Thank you, Marty, for the very complete answer. I know everything that you've suggested. And yes, the building itself has had issues, and we're operating with a somewhat illegitimate board. Answers are not to be found there, and I won't go into here.

I just wanted an idea who else's coop is being so over-the-top in the midst of dire financial circumstances.

Thanks again and safe new year.

15% maintenance increase is a little harsh being we are experiencing a high rate of unemployment and pay cuts. My question is why didn't your board have an assessment instead of a monthly increase. This would be a one time deal.
Look at it this way, your board has to also pay the 15% maintenance hike. Thinking your board is doing things that is causing financial hardship you can do 2 things (1) Run for the board (2) Put your apt. up for sale and run if you can. Good Luck

PC #1 brings up the very important issue of a maintenance increase versus an assessment, especially during the pandemic. There are no easy answers. As a point of reference, we asked our accountant this same question a few months ago and this is what he said...

"Generally an assessment is used to solve a one time (or temporary) issue...because it is a temporary solution. For example, back in the days when oil prices surged due to the Middle East war shortly after 9-11, many coops passed a Fuel Assessment to remain in place for as long as the oil prices were elevated. The more common situation for an assessment is to fund a Capital project. The capital project is generally a once-in-a-very-long-time event....so an assessment is ideal to fund such a project.

When it comes to implementing an assessment for an on-going issue (like a budget deficit caused simply by rising prices (in RE Taxes, wages, etc...), the "temporary" assessment concept simply won't work because the assessment will have to be implemented every year....and will likely have to be increased as the deficit grows.

I've seen some co-ops try to solve a "budget" deficit with an assessment equal to one month's maintenance charges...then the next year it becomes a two month assessment...and so on until they do away with the assessments and replace them with a maintenance increase."

I agree with PC that your 2 option are run for the Board or run away and sell your apartment.

Good luck.

My co-op just increased our maintenance 41% and added on a 30 month capital assessment payments of 52.56 per owner shares included with the new monthly maintenance increase.

Suzie,

Did the Board fully explain to the s/h why there was a need for both a maintenance increase and an assessment? They should have.

We were told that the building was 200,000.00 in debt.

You should ask the Board for a complete breakdown of the $200K debt. It's your right as a shareholder.

In addition, you should have received a copy of the annual financial report. Ask the Board to show you specifically what areas were most responsible for the debt. Then ask the Board what steps are being taken to prevent this type of debt from happening again in the future

It's possible that the co-op has had several large expenses in the past year or so. Like having to upgrade the co-op's heating equipment in order to comply with Local Law 97 (Climate Change Bill). Maybe the elevator and/or the roof has needed expensive repairs?

When's the last time you had a maintenance increase? Some co-ops put off making any repairs to avoid expenses. But, then all of a sudden, many repairs at once are needed.

There are many possibilities in play. Ask the Board for all of this information and you should get a clearer picture of what's happening.

How many units are in your co-op? If there are relatively few units, then all s/h must foot a greater portion of the debt repayment than if there are several hundred units in the co-op.

Has the Board held Annual Meetings and given out yearly financial statements? Your questions are valid ones to ask at the Annual Meeting and, as I said earlier, to the Board right now.

You have a right, as a shareholder in a corporation, to know how every dollar is being spent.

Good luck.

I hear it almost every year... <chuckling> Perhaps this article will put your mind at ease https://www1.nyc.gov/site/finance/benefits/landlords-coop-condo.page

What I believe is ending this year is the 421-A Tax Abatement. This is completely separate from the Real Estate Tax Abatement you're asking about and was given to new developments under certain conditions.

The Habitat comes out every year with names of all managing agents with ratings, employees and how many buildings they manage. Use the search to find it.
You can also check around your area buildings they have the managing agent listed as you enter the building. Ask them questions about the agent.
As I have been talking to several board members they recommend changing managing agents every few years. They do get lack/lazy managing employees, shareholders complaints, building safety or anything that needs managing. Most agents leave the jobs up to the building board. Make sure you do your homework in checking all managing agents before you sign a contract. I know a couple of buildings that have to change agent until they find a perfect fit. Good Luck