We inadvertently sent in two checks for our October mtnce. The coop cashed the over-payment entitling it "unapplied prepaid mtnce" The month it was intended for was clearly written in the 'memo' line.
Can a coop cash two checks that were written for the same month or should they have caught this mistake?
In addition, there was an arrears amount in dispute (for a repair that is 100% the coops responsibility) and they applied the over-payment to this arrears portion despite the fact that the check was clearly written out to " monthly mtnce only" in the memo line. and also the payment has been split in half btw actual mtnce and the repair fee in dispute.
Hi all...
First question: We, the condo board, have decided that the best way for unit owners to understand what they can and cannot legally do in their home, and what their rights and requirements are, would be best addressed by a professional. We want to hold a special owners' meeting for this purpose. Anyone out there interested in doing something like this? Would this person be a lawyer or a seasoned condo board president?
Two: Is the unit owner or the condo board responsible for any minimal impact on ceiling seams or related when a building naturally settles a bit?
Thanks.
Our lease allows the apartment to pass - or be gifted to - a family mamber without any approval. I am wondering about just adding a name - ie if two parents own it and want to add an adult child to the lease and stock certificate. Anyone know about this? The lease does not restrict this but there may be another reason we do not yet know about. (and yes we asked a lawyer but the answer was vague.)
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http://www.nydailynews.com/news/politics/de-blasio-affordable-housing-appointees-ties-developers-article-1.1616075
This needs to be exposed to everyone who lives in an apt. built by L&M Management.
Have any of you had experience with initiating minimum share prices in your coops? My Board is discussing the topic and although we have read many articles on the subject both pro and con I have found nothing that indicates it works.
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Looks like Deblasio's biggest donor L&M management/bfc construction will end up working in housing for this administration.
http://politicker.com/2014/02/de-blasio-appoints-members-of-housing-dream-team/
Recently a shareholder, in deep arrears, presented an application for an all-cash deal to sell her unit. However, the unit price is well below market value and not competitive with other cooperatives in our area. Also, the applicant is "between jobs". Although the cash inflow would be welcomed, is the Board in a position to present a 'counteroffer' to the shareholder (ex. increase asking price & request a certain number of months in maintenance in escrow to cover any prolonged unemployment)? If anyone has any experience, please share. Thanks!
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Do we have nothing to say about this company and the arrest of one of their principals????
For an upcoming HABITAT article, I'd like to speak with board members to get their thoughts on fire-safety regulations. Given the recent fire death at a midtown condo, are we communicating to our residents as best we could? Was this death preventable? Could boards do more to educate homeowners? What do board members think? Send contact information to flovece@habitatmag.com in the next day or so if you'd like your feelings known.
> Join the conversationI purchased a co op around 6 months ago and I noticed black soot around the house the last few weeks. Other owners told me that they are having the same problem and that this happened to the 2 years ago and it became progressively worse. The boiler was fixed then but now it is starting again. When we complain to the board, they tell us the boiler is fine and to go through our insurance to get our apartments cleaned! I fear this situtation is going to get worse as it did in the past and I am also concerned with what I am breathing in! Any advice?????
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Hi Luisan,
I am taking a leap here and assuming that you are a shareowner. The reason that is it a leap for me is that your e-mail sounds like it is written by a renter.
You sent two checks. It was your error. If you think there is sufficient staff to review every payment (even if it goes directly to the management company instead of a bank lockbox like mine does); you are mistaken. Their focus is on people who don’t pay. And no – they don’t have the staff to read each memo line. Depending on how your payment is processed – it may have been electronically converted too which means that nothing written on the memo line is transmitted to them at all. In short – you may have been writing just to yourself.
In my co-op we have people to pay in advance all of the time for reasons that suit them. We don’t ask about it – we are grateful in that this will usually cover for someone that is late.
If you think about it – you sent funds from your personal account to a company of which you own a part – the funds aren’t stolen – you still own a portion of them through your share interest.
I would suggest that you call it your error and drop the complaining. If you have a problem with one of the charges, bring it up with the Board.
Good luck
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