we have a Super repairing plaster from a leak in a sponsor apartment and he sadys he has to do it on a Saturday and "bring someone in to help him" this is a co-op what is the "someone" does not have insurance? Should the sponsor pay the Super for work that is anyhow part of the Super's official job - some of the work will be done during regular coop hours?
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Secretary would like to record meetings to use when typing minutes.
Opinions?
We have found out our co-op has been giving the wrong copy of the lease to new buyers for 15-20 years. This means these shareholders all hold a lease which is not current and does not contain all the amendments some of which are very important. About 20% of the shareholders - the older ones - have signed a different lease. How do we remedy? The transfer Dept at the managing agent was very testy when this was pointed out. They charge $500 (!) for a transfer (which basically involved about $15 worth of xeroxing and 1/2 an hour of paperwork).
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At our previous Board meeting, it was decided by the majority of the Board that a 'petty cash' account be surrendered to the Property Management Company for monitoring and distribution. It is currently being "held" by the President of the Board. According to the Property Manager, the President has yet to relinquish the bank information, as the President feels that 'she shouldn't have to turn it over".
Other than removing the President from her position via Board majority vote, can the Board or coop file charges against the President for theft or possession of corporate property?
I don't remember if anyone has mentioned it yet on Board Talk, but primary residents are required to *reapply* for the STAR abatement in 2014, even if they have been receiving it for years. A paper form is available, but online registration is much easier:
http://www.tax.ny.gov/pit/property/star13/default.htm
I would suggest passing this link along to your shareholders and unit-owners if you haven't done so already. Among other benefits, STAR establishes an owner's primary residence for the new version of the co-op/condo abatement.
If co-op shares were assigned to a new owner in June (prior owner was a part-time NY resident) and the city's abatement form in July was filled to reflect the new owners residency (NY) - then does the new owner get the full abatement? -
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In regards to the annual tax abatement/assessment some co-ops present to offset the abatement - I have read it is smarter financial planning to use assessments ONLY for capitol projects and not to just loose the money into the general operating budget. This way the assessment it is deductable for shareholders when they sell.
THOUGHTS?
A Special Meeting was requested by the shareholders and a notice is being prepared by the coop attorney. The shareholders are somewhat upset that the attorney is taking his time to prepare the notice, given the date they requested the meeting. Is it typical for counsel to prepare such notices or is this something that can be handled by the management company, or even the Board, to distribute to the shareholders?
> Join the conversation Comments (2)our co-op pays for our super's car insurance. the car is not owned by the co-op - it is the super's personal car. he probably uses it for building business 1x a month or less. i don't know why we pay this. anyone else pay for the super's car insurance?
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http://publiccorruption.moreland.ny.gov/
I suggest any HPD Homeowner go to this tonight. Especially, any building built by BFC Construction & Donald Capoccia who seem to be the largest donor to Gov. Andrew Cuomo.
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What was the cause of the leak? If the leak was caused by something that is the coop's responsibility, the coop should take care of the repair. If not, the owner of the apartment causing the leak is responsible. Whether the insurance co. for either party is contacted or not is up to the parties. If it is the coop's responsibility, you need to decide who will do the repair and when access is available. If it's not the coop's responsibility, we usually let the parties work it out.
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