New York's Cooperative and Condominium Community
I suppose I should not be using your first names. I'm sorry.
However, I do want to respond to fiduciary responsibility. I can't prove voting shenanigans but that's how I would describe their management of the finances. I think the board members got worse grades than I did in algebra. Questions about loans and the spending down of our reserve fund will hopefully come up at the meeting.
As to making money on passes, it may be the case that it's raising some money, but when does an amenity become a public space? Even our lawyer needs to research that one!
We pay very high maintenance. Also, there's no enforcement of the rules with regard to passes. Did I mention that the pool is in the black by six figures? I will be organizing and agitating, and getting signatures, and will let you know what happens.
In my 15 years of living in this co-op, the two consistent qualities I have observed in our board members is self-interest and conflict avoidance. One is annoying--a present board member is a ping-pong player and thought it might be a good idea to have a ping-pong table near the pool--and the second is disastrous. The board minutes are minimal and 8 months behind; no shareholders can attend meetings, nor can we observe; and the board has not held an informational meeting for a year. We were never notified of the change in the rules with regard to passes. Thank goodness, we're selling. My wife and I will never live in another co-op again
Introduce yourself to other members of Board Talk! Log in below or register here.
Board Talk members who registered prior to March 9th, 2016 will need to reset their password.
Habitat U: learn about how to manage a building, and what you should know as a co-op or condo board member.
Search, by word or phrase, all magazine articles from January 2002 to present. You may print or email your results. Print subscribers receive free access to the Habitat Article Archive.
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!