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Co-ops came about as affordable housing but now all you hear is business law. There is also you don't own I only shares in it. Well I knew all that crap when I bought it! What I did not know was how ruthless and depraved the board members were, they looked normal. I would rather live in a tent
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visit habitat uHabitat U: learn about how to manage a building, and what you should know as a co-op or condo board member.
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Yes it was designed with a means to affordable housing with a stake in the coopervative or community. But shareholders don't understand this thus not involving themselves in the day to day operations. Most don't know what the board is doing or not doing until it's too late. What happens to a cooperative when the renters outnumber actual residing shareholders in place? When you can't get a quorum in many years or actual numbers of renters vs shareholders? Do you run or stay? Why can't lawmakers who devise the BCL laws support the shareholders who are suffering?
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