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bingogames in coop - Yakov Jan 30, 2013

I was wondering if there is a NYC law as to the legality of playing Bingo games in Coop. I am a Board member in our Coop and we purchased Bingo game for our sharehoilders to play. We want the people to have a fun to play it . Are we allowed to play?

> Join the conversation Comments (1)

As long as there is no money or other prizes involved, it is probably ok. But since I am not a lawyer, I would strongly recommend you check with your co-op's attorney to find out exactly what you can and cannot do.

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Sidewalk Bridge - Laura Jan 30, 2013

We need to install a sidewalk bridge, but running into a problem with our neighbors. They have a bridge installed over our property line. Are they required to remove their bridge and should we be responsible for their cost?

> Join the conversation Comments (2)

They are required to remove their bridge only when they are finished with their work. In the meantime your costs will be lower especially if you complete your work before they finish theirs. If you can, use the same company they used for their bridge.

The company you deal with will be able to help you. They deal with this type of issue all the time.

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For most building work that requires a sidewalk bridge, the bridge has top protect the first 20 feet on either side of your property line. You need to work with your contractor or sidewalk bridge company to see what the requirements are and then deal with your neighbors on both sides of your building.

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where to file complaints against the property management company - Andrea Jan 29, 2013

Our property management company seems ‘to have stopped working for us for about 2 years’. They do the bare minimum and they do not even do that right. We have complained systematically about them paying bills late, arranging for services that cost twice the standard rates, providing us with inaccurate monthly financials, etc. – Instead of admitting to being at fault or having made mistakes, the company president said ‘we always look at the glass half empty’ and that we were too much work for what we pay them ($1000/month for a 30 unit building; which I know to be industry standard). – he decided to terminate our contract. – we feel of course relieved, because we truly feel they are unprofessional and incompetent, but we have 2 serious outstanding issues, and our contract with them ends in 3 days:
1) they recommended and arranged for our boiler to be converted from oil to gas because it’d be more cost effective and we would get tax credits…well, they never filed the paperwork , so we never got any credits, and the contractor they hired did something wrong and we were issued a violation for over $12,000. We have systematically requested copies of the violations for over a year, and they simply ignore us.
2) They were late processing our tax abatements credits (for the last 2 years), and when they finally did it, they did it all wrong, and on top of that, they charged a mysterious assessment, that, we, the board never approved. We requested a breakdown of what was charged/credited so that we can reconcile the shareholders’’ accounts. Not only did they ignore our request, they said that if we wanted to contact them we should do so via our new agent, who doesn't start working with us for another 3 days!!
Where can I file a complaint so that we can get these issue resolved? I just want the information I’m requesting.

> Join the conversation Comments (1)

Your property management company should be licensed through the NY Dept. of State. Their actions are not in compliance with what is expected of a licensee. You can draft a complaint and submit it to Dept. of State, Division of Licensing, Real Estate, in Albany or Manhattan. The manager has a fiduciary responsibility to act on your behalf as their client, which they have obviously not done. There is no cost associated with this, so it might be the place to start. Only problem, there will be an investigation and then a hearing which might take several to many months. You can always go the legal route, expensive but probably, from what you write, successful.

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Co-op Property Tax Issue! - Jay Jan 28, 2013

I am a board member of a small (17 units) residential Co-op in NYC.Our property taxes have drastically gone up since the past 2 years and now amount to ~ $90K. Our taxes used to be around $30K before that. We're behind on our tax payments accruing interest; thus increasing out tax amount due. I am interested in finding out what options do we have to bring down this huge hike? And how do we go about doing that. We have a few low income senior citizens unit owners. They might be eligible for exemptions. One attorney said he can't help us on the tax issue.

Your responses are appreciated!! Please Help!

> Join the conversation Comments (2)

Hi,

You need a certiorari lawyer for real estate. Their specialty is challenging real estate taxes and they typically receive a commission on the amount saved. My co-op challenges our taxes each year as a best practice. We use and are happy with “Sonnenschein, Sherman and Deutsch” (Stan Russo is the legal assistant for our building).

Good luck!

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I agree with Steve, you need to speak with a tax certiorari attorney about challenging the increase. We use Jeffrey Golkin.

You have a more serious issue, and that is your tax arrears. This is something you need to get resolved as soon as possible because taxes are not something to take lightly. You will definitely need an attorney to negotiate for you unless someone in your building has experience in these matters. Interest and penalties are accruing every day, so it is in your best interest to address this as quickly as you can.

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Is This Budget Kosher? - Board Guy Jan 28, 2013

We are being encouraged to accept a proposed budget that seems to defy common sense.

All shareholders have been assessed in order to pay for new elevators currently being installed.

The managing agent wants the funds received from the new elevator assessment in 2013 to be included in the 2013 budget as co-op income. Doing so will make the budget appear balanced.

However, the contracted costs for the elevators are not included among the 2013 expenses.

In other words, the budget is being made to appear balanced because income from an assessment to pay for contracted capital improvements appears to be available to pay for our utilities, building salaries, etc.

Obviously, if the assessment money is used to pay for general operating expenses, it won’t be available to pay for its intended purpose – the new elevator contract. Conversely, if the assessment money is used to pay for the elevator contract, it won’t be available to pay for general operating expenses.

In my opinion the proposed budget is deceptive.

Can someone advise as to whether this kind of budget manipulation is standard and acceptable practice for co-ops?

Or is this kind of budget manipulation a warning sign that we should be looking for a new managing agent?

> Join the conversation Comments (3)

1--what reason does the agent give for under-budgeting?

2--how does the agent suggest you actually pay for the elevator work?

3--most important, what does your accountant say? Most accountants I know would deem it ILLEGAL to assess monies for designated capital improvements, commingle those receipts w/operating funds, & use them to pay routine expenses.

Tread carefully here, & try to figure out the agent's motive.

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I cannot give an opinion on whether something is “kosher” however your budget sounds unbalanced at best.

I am an accountant but not a CPA. Best practice is that capital assessment funds be deposited into a dedicated capital reserve checking account (while operational assessments can go into the operating account). This also communicates clearly to your CPA what amounts get added to your cost basis so when you sell your unit, if your sale is taxable, your profit and corresponding taxes are less. The assessment funds at my co-op get transferred on a one month lag into the capital funds from the operating account (i.e. after the previous month’s assessment funds are fully known).

My two words of caution would be to: check the loan payments to see if they went up (a loan may have been used to cover the project costs); and to check to see if your building already had reserve funds which are being used to cover the costs. It seems odd that if elevators are ‘being installed’, the contractor would do so without needing progress payments as the work is being completed.

If your suspicions are true, you may have a big budget hole. Assuming it was not an honest mistake, you may also need a new management company or a new manager. Even if it was an honest mistake, you still may need a new manager who understands building finances a little better.

Good luck!

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The two previous posters are spot-on. Your treasurer should have been part of the budget-making process for 2013, and can hopefully provide answers to your questions. If not, you may need a new treasurer in addition to a new property manager.

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NJ coop owned units and tenants, who can't afford the rent - Patty Jan 27, 2013

Question for NJ coops. Our building is trying to deal with arrears by renters in units owned by our building. My question is, if someone is in arrears for many months and it is apparent they can no longer afford to live in our building, can we NOT renew our lease with them? Can we give them 60 or 90 days notice saying it is apparent they can't afford to live in our building and we are giving them time to find a new place to live and tell them we are not renewing their lease. Fellow members on our Board feel that possession is 9/10s and we can't do this.

Has anyone else had to deal with this as of late? We aren't trying to be mean, but the economy has caused hardship and we need the rent to pay everyday expenses. I have asked if we can have our attorney review this but I get the same argument from the Board, which I am on, that we can't add language like this. I find this odd as we can prevent someone from moving in for financial reasons.

> Join the conversation Comments (2)

Hello Patty
I live in NY, so I'm giving you the NY answer. If the tenants in question have a lease and their lease is up for renewal, you do not have to renew their lease.You have to let them know in writing that your do not plan on renewing their lease, and you do it 30 days of more prior to the lease expiring.
Also you go on the web and search LANDLORD TENANT NEW JERSEY.
I hope I was able to shed some light on your problem.

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Hello Patty
I live in NY, so I'm giving you the NY answer. If the tenants in question have a lease and their lease is up for renewal, you do not have to renew their lease.You have to let them know in writing that your do not plan on renewing their lease, and you do it 30 days of more prior to the lease expiring.
Also you go on the web and search LANDLORD TENANT NEW JERSEY.
I hope I was able to shed some light on your problem.

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> Join the conversation Comments (1)

Thank you Charles! I find this helpful. :) that's what I thought!

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Charles, on the NJ Community Affairs website, we do have a right to not renew a lease if the tenant isn't paying. thanks for your advice on how to look into!

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co-op boards - MK Jan 27, 2013

The board president is also the treasurer in my building. Since we have enough people on the board so that this is not necessary I find this odd. Is it normal for one person to hold 2 positions on the board?

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NO!!!!
One person per position. Since you say your have a number of people on the board, someone else on the board should either be the President or Treasurer

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> Join the conversation Comments (1)

it depends on your by laws our by laws say one person can't hold more than 2 positions except the president and sec can't be the same person

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You have a serious conflict of interest and a weakening of board checks and balances.

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Board Meetings - Corporate Secretary - Chris Jan 26, 2013

I'm new to the Board; during my first meeting, I noticed that the property manager is the corporate secretary for the monthly board meetings. Should the secretary be a director of the Board and not a third-party member?

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On our board, the corporate secretary is a board member, elected to the position by the rest of the board, and our managing agent is assistant secretary. The managing agent drafts the minutes for approval/revision at the following meeting. To my knowledge, this practice is customary. I hope this helps.

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Shareholder Lists - Gerry Jan 25, 2013

Are shareholders entitled to receive a list of all other shareholders?

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Yes, you are legally entitled to a list of shareholders. See this article:
http://cooperator.com/articles/1780/1/QampA-Disclosing-Shareholder-Information/Page1.html

See the caveat at the end of the article: you may be required to submit an affidavit promising you will not use the list for "improper purposes" (e.g., selling it to outsiders).

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PETS - CYNDI HEID Jan 23, 2013

Live in a condo and we have a no renters may have pets policy you have to own your unit to have pet. Management says they cant enforce this, we have fire alarm inspection 3x per year maint can make a note of address that have pets and office can look up address and see if owner occupied or rental unit, not so hard to keep track of. I am tired of dogwalk areas being filthy and i am no longer picking up any poop other then from my own pet. Rental units even advertising that pets are ok

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we are a no pet building that includes sublets
nyc has a pet law once a dog has been in the building openly for three months there is nothing thst can be done your staff has to be aware and notify management immediately if they see a dog

hope this will help you

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> Join the conversation Comments (1)

not in nyc on long island no such law exists here

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