New York's Cooperative and Condominium Community
>>"You should speak up and not let the board dictate how shreholders (sic) are to spend their money."<<
This misconception is one of the toughest parts of being a board member: the idea that owners somehow don't have to pay for the maintenance and upkeep of their own property!
On the contrary, the reason a board exists is to determine just how shareholders' money will be spent to keep their investment safe, in good condition, and in a state to increase in value.
The board does not "dictate," Anonymous, it makes decisions on behalf of shareholders -- the very same shareholders who elected them. If you don't want others to decide how to maintain the property you share with them, either get a seat on the board or sell and buy a house.
Finally, remember that board members are shareholders too -- they are subject to the same assessments as everyone else.
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Habitat 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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Learn all the basics of NYC co-op and condo management, with straight talk from heavy hitters in the field of co-op or condo apartments
Professionals in some of the key fields of co-op and condo board governance and building management answer common questions in their areas of expertise
Got elected? Are you on your co-op/condo board?
Then don’t miss a beat! Stories you can use to make your building better, keep it out of trouble, save money, enhance market value, and make your board life a whole lot easier!