New York's Cooperative and Condominium Community
Yes, I've been reading. Would comment there but don't care to have my name etc included.
So I'll reply here to one of his/her posts, about the interview. The blogger suggests that interviews may be too fraught such legal traps like race, job status, whether the buyers are veterans etc, that they should be discontinued and replaced by a more thorough vetting process on paper.
I disagree. Not that the financial background shouldn't be vigorous, of course. But the interview should be used if nothing else to explain the co-op/condo's rules. Most people have no idea what it means to buy into a co-op (I certainly didn't).
So take the chance to explain the nature of the business they're investing in. Tell them about your reserve fund: is it big enough to pay for the next capital improvement? Explain that when utilities, property taxes and inflation increase, maintenance will increase.
Then tell them about every-day issues. They will need to know who is responsible for problems like leaks. Explain why the board reviews renovation plans. Whether the newcomers should call the super or the property mgr or a board member with a question. Our interviews always end with asking the new buyers to run for the board!
None of these points require you to ask any questions that could get you into trouble. If interviews make you uncomfortable, ask your managing agent or lawyer for a list of categories you can NOT ask about and review them with the interview committee.
Hi. As Board Prez notes, it's possible to leave pseudonymous comments on the Blog. See instructions at the first comment at:
http://habitatmag.com/index.php/habitat/activities/habitat_blog/top_ten_list_pet_peeves
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I understand points made about interviews, but I have a few comments:
-- The interview gives you the chance to not only meet and find out things that paperwork can't tell you but also to let an applicant meet and interplay with the full board.
-- At interviews, we always ask an applicant if he understands what a coop is v. a rental or a condo. They always say yes. We then ask him to tell us what a coop is. They almost always say that you own your apt, and coops cost less than condos. We then explain that you own shares in an apt corp not an apt, a coop is a state business corp like other corps that sell shares to the public that must comply with business corp rules, etc.
-- We may note a few policies or bldg rules at an interview but we don't explain all of them. There are too many, and applicants are nervous and won't remember much of what you say. You're lucky if current SHs know what they are or bother to ask if they don't.
-- We give an applicant our "Welcome" flyer as soon as he's told that he's approved. It has a short intro then bullet points with initial guidelines he needs to know: move-in rules, super/doorman's hours, phone numbers for the super, property mgr, etc.
-- An applicant must sign each page of our house rules in the sale package, but that doesn't have to be notarized. Notarization basicall confirms that the person signing is who he says he is. It doesn't confirm that he read and understands the house rules. Just signing is sufficient.
-- At an interview we ask an applicant if he has questions about the coop, bldg, staff, etc. Boards ask questions but they sometimes forget to ask applicants if they have any.
-- 10 years ago, we created a SH's manual containing all coop policies/procedures, a copy of the house rules, fees/fines, who's responsible for what, etc. and master copies of key forms such as applications for doing renovations, sublets, refinancing, etc. When a SH sells, he's has to give his manual to the buyer at closing or pay $100 for another copy. Buyers are advised to read and keep it handy. This is a lot easier than trying to explain all the rules at an interview. All SHs are told to refer to the manual or call the property mgr with any questions, before they start apt projects, etc. With a manual like this, SHs can't give excuses and say "I didn't know that" or "no one told me."
-- There are areas you can't touch upon, but many boards hesitate to ask much and tippy-toe through interviews. We're courteous of course but we ask an applicant why he wants a coop, why he wants to buy into ours, etc. There's nothing wrong with asking questions or posing a little challenge. We may ask, for ex, "What would you do if a neighbor..." Answers can tell you a lot about a person's character, level of maturity and sense of responsibility.
FYI: Per anti-discrimination laws, there are 14 "protected categories" in which law suits can be put forth if it can be proven that someone was rejected for a job, purchase or whatever on any of these grounds:
Age
Disability
Partnership status
Alien status
Gender (including gender identity)
Race
Children (or childless state)
Lawful occupation
Religion
Country of national origin
Marital status
Sexual orientation
Creed
Military status
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Excellent ideas, BP! I'm going to share them with my board. Thanks.
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Very impressive and very organized, BP! This sounds like a very well-run co-op.
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Hi. It's actually possible to leave pseudonymous comments on the Blog. See instructions at the first comment at:
http://habitatmag.com/index.php/habitat/activities/habitat_blog/top_ten_list_pet_peeves
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I agree with all of your reasons for having the interview. Your points are well taken and we certainly have not stopped the process. We do have all applicants notarize a copy of the rules as part of the board package stating that they have read and understand them. We also have a comprehensive list of Interview Do's and Don'ts that we developed with our attorneys; however conversation during the interview can easily stray into sensitive territory. In today's world, I just question whether the potential pitfalls outweigh the advantages.
Thanks for the feedback!
BTW, according to Habitat you should be able to respond in Habitat Blog using a pseudonym and hide your email address, just like you can on Board Talk.
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