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You are 100% on the money! Co-ops are going to get harder and harder to sell. Too many stories of bad boards and yes the fear of retaliation is very real! There is no unity in my building and they are only vocal when directly effected. Even then they often remain silent a stew. Yea who cares about the stupid handbook! Read it so that you can confirm that you have no rights and you are screwed. Like a dog chasing its tale, it will get you absolutely nowhere! Co-ops came about as a housing alternative that made home ownership more affordable. That was the story but now all you hear is you don't own it, you own shares. Well I knew that going in it's not rocket science or a secret of any sort. What I did not know was what a bunch of snakes the board members were, they looked like normal people. Coop "shareholders" have zero protection. I spoke with 2 attorneys today who will help me. One charges $500 per hour and the other charges $650 per hour. So by all means if the situation is that sour that you need an attorney get one. But the board and MA are fully aware that this litigation could easily reach $50 thousand. So if you have that kind of money laying around you may actually have ACCESS to your rights. I am going to be my own attorney. I had a free one and you get what you pay for. I can't say I got nothing because I did get something. An incompetent attorney who gave bad advise, lacked backbone, screwed me up even worse! I fired her today, but I did it nicely I can't afford any more of her total incompetence. I may not be an attorney, but at least I am willing to stand up for myself.
I am planning on paying them back also. I am perfectly capable of writing reviews. I already began exposing the MA in reviews. have not yet targeted the coop but I have plans for them too. They were horrid and I am going to go public with what they did! If they are not happy with resale now they are going to be even more unhappy when exposed for the monsters they are! I am going to fight them until the bitter end. Basic Principle the law does not protect me so it is just going to be an eye for an eye. No one spoke up on my behalf when they knew I was getting screwed (too afraid). I certainly don't care what happens to any of them. I don't respect them and blame them for allowing these self serving creeps to do as they please. Now they are going to be more scared because of what happened to me! What a bunch of..............!
Totally disgusted and fighting mad!
There is so much money being moved under the table. The current MA has a thing for changing the bricks. Massive portions of brick removed from building exterior and replaced with new.
It's too late for me, I was screwed royaly. Attorneys want 500 to 650 per hour. I will have to settle the score another way. I have already written reviews on the MA. I got a call from someone interested in purchasing a property he manages in great neck. He wanted to know if it was that bad! I told him to do his own research and that he was welcome to stop by and see how they operate first hand. I have recorded conversations and my reviews will contain a link so that people can hear how truly awful they are. It's revenge and I know what many will say, but they have not lived through what I have. It's warranted and the names of the perpetrators will be mentioned. I have a nice recording of a board member cursing me out and banging on the elevator door like a raving lunatic.i plan on giving him the credit he deserves.
MK - If you were quoted $500 to $650 per hour to handle your case, you're talking to some mighty expensive legal representation.
I suggest that you browse this website: https://realestatelawyers.legalmatch.com/NY/Nassau-County/condominiums-cooperatives.html . The website is called "Nassau County Condo and Co-op Lawyers". I'm sure you can find a perfectly competent attorney to represent you, and any other shareholders who are as aggrieved as you are, for a much more reasonable billing rate than what you quoted in you last message.
You might also try contacting the Legal Aid Society of Nassau County here http://nclas.org/ . Your income and other assets may put you beyond their ability to represent you, but I believe they can refer you to a reasonably priced attorney in private practice who can handle your matter.
Good luck.
Monday, How do we form a shareholder group. Would an online petition and a hard copy made available to all co-ops and presented to the AG demanding updates to the by-laws which includes term limits etc.
Queens - I definitely do not want to dampen your enthusiasm, but I don't think you'll be able to get enough shareholders from different buildings to agree on anything.
Take term limits, for example. They may be essential for your co-op so you can displace a dysfunctional board. Other co-ops, however, may love their boards and keep them in office year after year because they do a spectacular job. I doubt these shareholders would support term limits.
Think of each building as a sovereign entity, with their own laws, customs, finances, etc. Most would be unwilling to give up home rule. The closest we have to a "United Nations" of co-ops is the Council of New York Cooperatives and Condominiums. Look them up and see if they can help you with information about replacing a rotten board.
Good luck!
Shareholders need to become knowledgeable about the ombudsman bill sitting in Albany 2017-2018 NYS 5839. As far as getting legal representation individually it is costly and once some lawyers hear your story and the cooperative lawyer involved they advise you to "Get Out!" Tried for many years to to handle problems where I live at in Westchester County to no avail and its hopeless!!!! Shareholders are not concerned about the politics or board running the cooperative as a whole. We are the annex of DC.
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I can totally understand your frustration but clear heads prevail. We need to form a shareholders group so we can stand together. Why do the little people have to suffer when corruption is running rampant? We have to protect ourselves and fight as a whole not individually. Look at the media coverage of incompetentancy in government , housing, education and the lot. Get where I'm going with this?
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