New York's Cooperative and Condominium Community
This is not conflict of interest, but a potential ethical issue:
a. The board member should be charged, as stated before, for any time incurred in consulting the co-op counsel.
b. The board member has inside information regarding the apartment that he/she wishes to swap and wishes to trade it. Obviously, the board member is giving up his/her apartment for the more desirable apartment. There may be some money being paid for the difference in the cost. So, from that point of view, the only issue here is an ethical one of inside knowledge and advantage over other residents.
c. Do other shareholders know about the availability of this apartment and would other shareholders had the same opportunity to do the same consultations as the board member and come up with the same swapping scheme if they would have known the apartment was vacant?
d. Usually, you have shareholder who get interested in a larger or smaller unit and they sell their in order to buy the second unit. Wouldn't this be the case of your board member?
AdC
Rene - Just my opinion, but if your BM lied to your coop attorney to get his help, I'd consider that reason (misrepresentation) to reject any application by him/her to buy another apt in your coop. If this is serious enough, I'd personally also ask that BM to resign, or you and your other BMs should vote to remove him/her from the board.
I'd also put the cost of legal services for time that your BM spent talking to your coop attorney about this on his/her account. If any other shareholder did this, you'd charge him/her for it, wouldn't you?
Thank you for rating!
You have already rated this page, you can only rate it once!
Your rating has been changed, thanks for rating!
Board Talk members who registered prior to March 9th, 2016 will need to reset their password.
This is just the kind of petty-tyrant overreaction I've come to expect from co-op boards. We're talking about somebody's home, about the place where they live and raise a family, and you want to reject an otherwise viable applicant because he/she made a fairly minor error in judgment or even -- have you thought of this? -- didn't realize that he/she talking to the board's atty was wrong? Either way, big freaking deal. Has anyone TALKED to the board member before getting all hissy-fitting?
Thank you for rating!
You have already rated this page, you can only rate it once!
Your rating has been changed, thanks for rating!
Board Talk members who registered prior to March 9th, 2016 will need to reset their password.
Anonymous: My telling Rene her BM's lying to the coop atty may be reason to not let him buy another apt, voting him off the board, or billing him for the atty's time was my opinion. I don't see it as "overreaction." Please allow for the possibility that you overreacted. Here was your reply to me:
>>>This is just the kind of petty-tyrant overreaction I've come to expect from co-op boards. We're talking about somebody's home, about the place where they live and raise a family, and you want to reject an otherwise viable applicant because he/she made a fairly minor error in judgment or even -- have you thought of this? -- didn't realize that he/she talking to the board's atty was wrong? Either way, big freaking deal. Has anyone TALKED to the board member before getting all hissy-fitting?<<<
Anonymous, you don't know any more than anyone here if the BM has a family, is a viable applicant, made a "fairly minor error in judgment" or didn't know talking to the atty was wrong. That's your opinion, which you also have a right to. We don't have all the facts here of course but the fact that the atty gave the BM help may be a big deal. As others said here, he represents the coop, not individual SHs.If the BM didn't know it, the atty should have told him so.
Coop boards are not all petty-tyrants. Many of us do our best, treat all SHs fairly and equally, and act accordingly if a SH (BM or not) takes advantage of a situation. If that hasn't been true in your experience, that's unfortunate. It's unfair to give all boards a black mark when so many deserve credit for the good they do. I only ask that you keep that in mind. Thanks.
Thank you for rating!
You have already rated this page, you can only rate it once!
Your rating has been changed, thanks for rating!
Board Talk members who registered prior to March 9th, 2016 will need to reset their password.
BP chastises Anonymous for suggesting giving the SH the benefit of the doubt, though Anonymous "doesn't have all the facts." Yet BP is ready to deny the SH application though BP him/herself doesn't have all the facts.
BP, you're the pot calling the kettle black. Perhaps you should have tempered your original posting.
Thank you for rating!
You have already rated this page, you can only rate it once!
Your rating has been changed, thanks for rating!
Board Talk members who registered prior to March 9th, 2016 will need to reset their password.
JG, I did not intend to chastise Anonymous. I simply asked that s/he consider that all coop boards are not petty-tyrants as s/he seemed to indicate. Also, I am not "ready" to deny a SH's application to buy without my having all the facts. I began my posting to Rene by saying "Just my opinion". I offered suggestions in an effort to help Rene weigh the facts she has to determine how she might resolve or ameliorate her issue with a BM.
One benefit of Board Talk is being able to offer options, opinions and outcomes based on experience so that someone who asks for advice here can consider them in determining a course of action in a specific situation.
We are all here to learn from each other. It's impossible for any of us to know all the facts about another poster's issue. All we can do is offer advice or opinions that may be of help. If Anonymous or anyone was offended or felt that I was chastising, I do apologize. That was not my intention. We have enough conflict in our coops and in our own lives. We don't need more of it here.
Happy holidays, everyone ~
Thank you for rating!
You have already rated this page, you can only rate it once!
Your rating has been changed, thanks for rating!
Board Talk members who registered prior to March 9th, 2016 will need to reset their password.
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!
thanks for your response...the apt for sale was advertised to all shareholders and the apt is on the open market for sale. No one shareholder has expressed interest in the apt and we dont have any current offers. The apt is actually the same size, but on a higher one flight up. The shareholder would have to pay off her mortgage and sell her apt in order to gain the other apt.
thanks for you response. i learned that the board can create an internal resale policy to cover these types of situations which we will discuss. And we have been advised to write the board member a notice that she is not to contact the coop attorney for personal matters. I am checking to see if we need to do anything else. She lied to the attorney and misrepresented herself and the deal to get his assistance.
Thank you for rating!
You have already rated this page, you can only rate it once!
Your rating has been changed, thanks for rating!
Board Talk members who registered prior to March 9th, 2016 will need to reset their password.