Could I give the last year actual to my former owner neighbors whom is a professional CPA. Also, he ran for board as I am now? Just want second opinion on number is this wrong?
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Good Afternoon,
I am an owner of an HDFC coop in a desirable & gentrified section of Brooklyn. My coop board is by far the most crooked and dishonest I have ever heard about. There is so much negative practices going on I don't know where to begin. I unfortunately, due to a number of factors have been too complacent for the past couple of years since I purchased. First, the coop board (there is no clear indication of who the board consists of) violates Fair Housing practices completely. They do not rent nor sell to anyone that is Caucasian period. This practice has to be stopped. When I was purchasing I was told one of the reasons they wanted to interview me in person was to make sure I was not White. Second, shareholders meetings have never been held, I have never received the annual financial statements, and most important committed fraud on my shareholders certificate in listing the correct number of shares transferred from the previous. Besides a costly attorney, what can I do right now to get the ball rolling on having this board investigated. I welcome any and all suggestions, input, etc. Thank you
Our coop requires residents to retain plumbers for work inside the walls as per NYC law. However sometimes when there is an interior pipe leak, such as a toilet lead bend, they try to get the Super to do it. He is not licensed and often does a faulty job. Can we refuse him access to our apts for this kind of work on the basis it violation of NY laws and presents a hazard and demand a qualified plumber? The coop can deny access to unlicensed workers so why can't we?
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As part of a coop renovation our GC is leveling the floors (old building that settled) by sistering joists and installing a new subfloor/floor. The work affects the 80 year old ceiling in the apartment downstairs, resulting in bits of plaster falling. There has been water damage to those ceilings before.
What's the best way to protect the downstairs ceiling? (and me from an irate neighbor, who has already filed a DOB violation about ceiling collapse, despite an engineer's report that there is no structural damage).
This question is a bit of a stretch. Our coop is having some large equipment (part of the heating/cooling system) installed. We've had some screwups in the past. So I asked our managing agent who is bearing the risk on contract -- the engineer who designed the specs or the contractor who is installing the equipment. I was told that neither company assumes the risk -- If the equipment is installed incorrectly or doesn't perform per spec, we need to pay someone else to try again.
This doesn't seem right to me. Does anyone know where I can get information on these contracts? Is there a contractor's association in NYC? (I've googled, but nothing looks helpful.)
Hi there--
I'm the president of a newly formed condo board for a new, small building of 4 units in New York city. We're trying to set up our articles of incorporation, but don't know if we need to be an LLC or Corporation. I suspect the former, but this is a building of liberal arts grads, so not the most adept when it comes to thinking about these things. Any advice gratefully received.
For a Coop: I'm curious how strictly Boards must follow corporate formalities, specifically with respect to Board approval of various items.
Considering all of the issues, large and small, that come before the Board -- Is there a rule for what actions require a formal vote and resolution?
For example, I assume that to amend the House Rules, there must be a vote and resolution.
If the Board enters into a contract with a service provider, I assume the Board must vote on a resolution to approve the contract. But, if the Board agrees to a change in the contract -- let's say a contractor renovating space wants to change the plans at an additional cost of $500 (or more). Does that require a formal vote of the Board?
Lets say that Board sends out a Newsletter to the Shareholders -- Does the Board have to formally approve the contents of the letter, with a resoution?
Do Board Resolutions have to be set forth in a separate written document, or can they be recorded in the minutes? "The Board voted to approve x, y & z."
Any thoughts on A/C units dripping down front of buildings? One unit on the lower floor presents more than just a "sprinkle" of water. It's drips down near an entrance to building, leaves a big puddle and is staining side of building.
Just wonder if there are any requirements and rules our Co-op should have regarding A/C units and proper drainage.
thank you.
Is there a legal difference between a "sublet" and a "short-term rental"?
If a shareholder has an AirBnB "tenant," is that a "sublet"? Or does sublet refer only to a more formal transfer of an interest in the lease?
Similarly, if a Prop Lease permits "sublets," can the Board decide that sublets must be for a minimum of one-year?
Can anyone offer some insight into tree pit lawsuits? Our Co-op is being sued for a large sum due to a fall. Building's insurance lawyer is handling the matter but there is little progress made towards either a settlement or a dismissal. First time we heard about the fall was a year after the incident. Now, its' just been constant demands for information (i.e., board minutes, emails, perssonal cell phone pictures, etc.) as well as numerous depositions. No end in sight?
HOnestly, and I am not a lawyer, but this kind of lengthy process seems to be filling the pockets of lawyers and going no where.
Can anyone shed any light on the matter? Am I missing something?
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What you share with your former owner neighbour is between you and him. It's a financial report and if you are seeking better understanding from a professional so that you better understand the report - good for you!
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