Our co-op distributed notices warning residents that air conditioners could be damaged if they are turned on when LL11 facade work is in progress outside the windows, even though the contractor places filters over the AC.
Could the co-op be responsible for AC repair costs?
Our coop maintains building employee personnel folders that includes any counseling or disciplinary memos.
- Can individual Board members request access to these records?
- Are they part of the business records that any shareholder can review?
We've been a self managing condo for the last 2 years
mainly rental units owned by absentee (oversees) landlords but 4 owner occupied units
looking for recommendations for a management company with experience in dealing with a small building such as ours that could provide basic management services economically
Thanks in advance
Small co-op formed in the 1980's by residents in the building which ran the board until late 2000's. Mostly, they "ran" and controlled everyone new to building. The commercial space which was sublet by a second Corp. (run and owned by original coop members) income went directly to them and they paid the coop very low "rent" . It's only been the last 5 years that a new board was voted in and the PL , Houserules and protocols were put in place.
The board is now asked by one of the original founders (who had been Board President for 24 years - doing very little to upgrade building and mostly was self serving) to "waive" the process for adding his new wife to the stock cert. His wife has also been a resident since 1980's. His position is that he and his wife have been residents of the building for over 20 years and shouldn't have to follow protocols for "new" people coming into the building. There is also fees involved which go to the managing agent (not the building) for processing fees.
The process, btw, is similar to refinancing requirements etc. Credit and lein checks, recent tax reports, etc.
Any thoughts on this? We waive it once then it must be waived for all.
i have been in this coop pre conversion. two of the original owner apartments have not been occupied by their owners since 1985, the conversion.
there are non unsold share apartments that ave been rented for over twenty years.
everything is a fraud , conflict of interest . sponsor hand picked board .
complain and retaliation is taking out against you. including using coop records for this action, only me getting the financials 1 day after the annual meeting.
The building is has more renters than owners now, They let people buy owner occupied apartment and let them treat them like unsold shares/rent them out. 1985 conversion and they let a non bonded board member buy a unsold share apartment. grifter family on board didn't pay sublet fees for over 20 years, they had their family members live in the apartment for 5 years before renting it, therefore it is not unsold shares.
Now they tell me that the board will not recognize any committee i form.
The board really thinks they are beholden to the managing company, but since the managing company put them in there , they are serving the managing company first.
brace on , cant type well
Homeowners during a recent meeting have asked why the board has not created a large enough reserve fund to pay for the now estimated $15m window replacement . In our annual audited financial statement there is always a paragraph that says " the board has elected not to estimate the costs of repairs and replacements". Do most condo do this?
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We live in a condo, where one of the board members stole the reserve funds.Now they need repairs around the buildings(40 units),roofs, siding.
No improvements has been made since 2008.Now they want to raise the
maintanance fee to cover the expenses ($125.00-150.00)monthly .
My husband is retired, I;m on dissability due to a major surgery, we cannot afford it.What can we do?
I live in a co-op that I detest and have it on the market but it looks like it may be quite a long time before I am able to unload. I have taken in a roommate because I feel unsafe here and he has been with me for a year now. My co-op has a no rental policy. I am wondering if I can just leave him here since he has already been a tenant for a year. Should I have him write a checks to cover the maintenance so that his residency is more established. Should I present him as my significant other? The board is hostile and irresponsible and I don't trust them. They have different rules for board members and I want out desperately. I would like to leave my friend here since the location works for him. Meanwhile I would like to move on to greener pastures,
> Join the conversation Comments (1)Our management company is woefully terrible...but the recent issue is big. It looks like they failed to pay several months worth of water bills...in addition to now being hit with a huge comprehensive bill, there are also late fees. Since they manage our accounts, bills, vendors, etc., and we hired them to do that...I feel that this is their responsibility...their lack of oversight (this started with a poor manager, who was let go, followed by a new manager who has not been trained properly) and I feel that they should eat a portion of the bill...particularly those that were unpaid. I am not sure how to proceed. I suppose we could also let them go and find a new company, and then bring the old one to small claims court. I need advice.
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Hi,
Does anyone know what percent or shareholders votes are required to amend the by-laws?
I thought it was two-thirds, but read an article that states the “BCL which was amended in 1998 now only a bare majority of the votes cast at a shareholder’s meeting at which a quorum is present”.
Our co-op has 525 shareholders. How many votes constitute a quorum?
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Can I ask the verbiage in the memo and also how they were distributed (under door, via e-mail, etc.)?
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