New York's Cooperative and Condominium Community
It appears that there's an easy way around this. The lease states that the storage space is furnished "under a revocable license." The board should say that all licenses will be revoked unless the lease is amended to allow the coop to charge for use of storage space. This should be done in a straightforward, common-sense manner: "Given our ever-rising costs and the high premium on storage space in New York City, the coop cannot afford to offer this amenity at no charge. We must either charge for storage space - which will require a supermajority vote of shareholders to amend the Proprietary Lease - or we must convert the area presently used for storage to another use." Done properly, this should ruffle no feathers except those of the people who thought they'd found a sly trick to get free storage lockers forever.
As for bike storage, the same "amend it or lose it" approach would work, but bicycle storage is less space-intensive. In our building, we charge for lockers but offer free bike storage since much less space is involved per person. We're not stuck with a "furnished gratuitously" clause so that works fine for us.
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!