New York's Cooperative and Condominium Community
I'm sure that this topic comes up all the time. Our building is a 60+ unit downtown condo and our management company is a disaster. I know that the service one receives often depends on the individual managing agent, but are there any generally reliable and not insanely expensive management companies out there?
Join the Conversation Comments (4)Run from hell from Allarea Management
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Veritas Property Management is the best.
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I agree with happy. I was on a board for a short time and not on the board for the majority of the time. Maxwell Kates was a welcome relief compared to the MAs we previously had.
And reasonably priced too. I was on the board when we were thinking of switching and we interviewed a few. BHS and Douglas Elliman were both about 25% more expensive. And being that they both had sales depts. that's really what they wanted, the referrals.
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I agree - definitely run from All Area - And yes we definitely need the law and someone to represent us - and NYS should be able to take action against management companies - not just as RE companies - There must be laws that are enforced to protect shareholder interests' there are laws now but they are not enforced
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This is the truest statement I've heard so far. John, you are so right!!!. Lie after Lie, kickbacks, etc. The worst of the worst. I know no agent is great, but Maxwell is a horror show. Please beware or go at your own risk, take the shareholders into account, they do not care and will spend your money and make their own rules, legal or not. Lie, Lie, Lie.
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liar and managing agents are often synonymous. board members are easily bamboozled unless they are sophisticated enough to probe and include architects, people in the construction business and others with business awareness. in my building the lawyer and managing agent, craig lamb, support each other’s use of my co-op as a cash cow for themselves.
the real estate industry lobbies against restraints on co-op boards because it’s totalitarian control would be disrupted by laws favoring co-op shareholder rights.
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you both got it right .So called professionals, the lawyers, even a i assime rockie architrct can be so easy BS by managing agents. It is amazing, how little they know about the real world. You need people that know construction, people in trades, home inspectors that know who runs the cash cows, and who runs a tight ship on the maint part. Plus you need financial interested people, on and off the board, whether the board /managing company likes it or not to check the financials , a lot more deeply than the audited report , which is just a check on math, no check on the accuracy of the info submitted. Many people think a conman personality, giving them the answers they want to hear and making them feel important, like they are really smart, while they are being nose ringed led into schems that make the MA extra money .
Time for another round up like in 1998 by the nyc DA. Also there is a 2 page memo , i think from the DA office , but pertaining to boards and safe guarding of funds . Make sure that the board is following that, it calls for every board member to be involved in the fiances and switching every couple of months of duties , so no 1 person has total control. If they refuse to follow it,start a paper trail so that they are personally responsible due to their refusal to perform due diligence and fiduciary responsibilities already drwn up by coop fraud pro's znd tailored to their coop board member responsibilities.
Go to your local counties online data base and look for the convictions page, . Put in your managing agent and companies name, coop name,
and check out the lawsuits and convictions. For a small fee you can get 2 days of full downloads of cases, or go to the court house and get them for free.I'll post a link to the 1998 case when i get a chance, i am sure habitat has it in their archives.
your right the real estate companies have been blocking the ombudsman law for coops, Wonder Why? i mean they work for the shareholders right?
CASH COW protection, os what they are about, They used coops to beat rent control,and turn it into a unsupervised industry.
we need to know who these lobbiest are, and work on them, air their laundry, as in court cases and convictions. I need to learn twitter, it is a good tool to quickly keep people informed and let others know of the scams discovered and how to check for them. Plus start a photo share site more like ungar,instagram, to show the real conditions of neglect,
Use social media it is powerful.cc your legislatures, and the AG office to show what a worthless tool they are.This is what they approved and created but refuse to go after all the fraud, which is a violation of NYS laws. Maybe we can find a fed angle, to bring the heat on..get involved, Lawyers that work both side of the fence, another scam and should not be allowed
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thank you, ‘escapefromyonkers’, for ideas for shareholders to overcome the white collar crime rampant in our co-op’s.
i know for a fact that the real estate industry lobbied the new york city council to block a bill requiring the co-op board to provide reasons for rejection of applicants. btw, christine quinn is in the pocket of nyc real estate power.
we haven’t posted about the problems with co-op lawyers who make real money representing the co-op in suits against shareholders that they instigate.
liz kreuger, state senator, who works for co-op shareholder rights, needs support for her shareholder ombudsman bill. i also suggest calling alice in sen.kreuger’s nyc office for guidance in how to fight for the bill.
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Escape from yonkers - we need to put pressure on our local council people for this ombudsman legislation, find out how far along it is, push hard. Election time is around the corner, for those in co-ops this is an important issue for everyone that reads this blog. Each of us, push for Ombudsman.
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I live in a Maxwell Kates managed building, and they have been wonderful despite several nut cases in our building who sound as paranoid as some of the posts above. It all depends on perspective. Please know when you read these posts, you may only get one perspective, and you can ask for references from any MA to get more of a well rounded perspective.
I agree, no company is perfect. There are 2 sides to every story, so I wanted to write in and let you know my view. At the beginning, I think MKI listened/tried too hard with customer service for the squeaky wheels, but the rabble rousers began with obvious lies and allegations, I know because I was serving on the board to know the whole story.
Use your previous problems to ask as Questions for prospective MA's.
Your board's policies and procedures can dictate what your MA can and will be allowed to do, as well as the board making decisions to direct your MA.
It's up to your board to work on the relationship, which needs respect coming and going. Despite all the lies and abuse our shareholders and "so-called board members" dished out- MKI has remained professional and courteous. That's a pretty big success in my book!
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It seems you were one of the luck ones, being on the board. I'm sure there were favors, which is what happens with certain board members. Wonder if you would feel the same not being on the board. Do the other members you served with feel the same way? You speak of squeaky wheels, that too is a perception, who is and who is not considered the squeaky wheel. When MA's lie, do things out of the realm to favor one side or another, not pay attention to rules, concerned about their position in the building, I would say beware. There are boards that are not up to snuff, it's the MA that should inform. Many boards are split, different opinions. I know MKI, people beware. This opinion is from someone who was on the board as stated and partiality does ensue.
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I agree with CL, I live in a MKI building, corruption is the appropriate word. Not paying attention to rules, regulations, by-laws, very serious mishaps on their part. Of course, those board members who get what they want will certainly have a different opinion, but by enlarge STAY AWAY. Money spent, where did it go? Who's pocket? Be very careful, so the one who's happy received something.
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In our building we are stuck with a small, group of mean spirited shareholders who have managed to bully most qualified people from running for the board. That building is managed by MKI. No management company is perfect but they are competent. Thank god we voted in a new board of directors who more represent the building, especially glad rid of the most hateful member. MKI is not the problem its the bullies,who have nothing to do but endlessly reply to forums like this and make their numbers seem bigger than they are. I have a life so you wont hear from me again unlike my neighbors.
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Just gave yourself away. MKI with CERTAIN members (yourself included), not even the majority, chose to circumvent By-Laws, ignore motions, refused to state minutes, complain about bullying that NEVER happened and as a MA went along with all of this. How good are they? Be careful.
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I have served on the Board and not been on the Board for longer during MKI's management. I can say my experience has been that I am very impressed with their service both as a Board member and a shareholder with unit issues. I can heartily say that MKI puts Orsid to shame and several others with whom I have experience. I also agree that there is usually at least 1 squeaky wheel a with their own agenda on the Board and most often more than that. Good luck.
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Like I said, we don't have to agree; there is more than just one side to each story. But each board is responsible for due diligence in checking references and getting the whole picture. FYI, I've not received any "favors or monetary gains," from MKI. I have paid all my maintenance, charges and assessments in full just like all shareholders should, and in all of my dealings, they have been on the up and up.
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I like Don Wilson, Justin Verret and their team at Blue Woods.
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We switched to Excel Bradshaw Management, we actually found them on this website. They've been pretty good so far, no complaints.
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Be very thankful that you only have had Excel Bradshaw for a short time. Would be interested in Bradshaw stories; I have a boatload.
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Be very thankful that you only have had Excel Bradshaw for a short time. Would be interested in Bradshaw stories; I have a boatload.
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I think there should be a worst managing agent list.
1. Allarea Management Company would come in 1st.
There should be some kind of zagat guide to managing agents. Unfortunately, in the state of NY all you have to do is get yourself a real estate license and then call yourself a managing agent.
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From all that's been posted, they all seem to have baggage, but I would run like hell from Maxwell Kates. They lie and cover up the lies with more lies. The scheming starts at the top and trickles down.
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