New York's Cooperative and Condominium Community
From my experience, boards are required to pass these credits on to shareholders.
However, many boards have not factored these credits into their annual budgets.
Therefore, they must assess for the amount of the credits on a per share basis.
In order to allow these credits to flow through to shareholders, without need for assessment, maintenance would have to be raised to cover the amount of these credits.
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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
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