I don’t know how unusual or common place this might be but maybe someone out there can offer up some guidance. We have a 108 unit co-op in Bay Ridge, it’s a pretty large building in 2 wings. We have a live in Super who we provide a beautiful apartment to for him and his pretty large family. 2 bedrooms, 2 baths on the first floor. If the co-op were to sell it we could easily get over $700K for it. He also has all his utilities paid as well as free laundry. He’s supposed to be available 24/7 with paid vacation and 2 days off but he is still supposed to be available.
Without any one else in the building knowing except for the board president and a few other board members he and his wife recently opened a speciality grocery store and bakery where he is the proprietor and his wife runs the bakery. When we brought this to the attention of the board at the most recent shareholders meeting the board president told us that he can do whatever he wants with his free time. We already know from the porter that he is not in the building most days and we are about to lose our 5th porter in 7 years because it’s too much work for him since the super doesn’t help him at all. Is this something we as shareholders should have a say in? There are already instances where he hasn’t been around when we call him or he has sent him wife to check things out instead of showing up himself.