New York's Cooperative and Condominium Community

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CO-OP/CONDO BUYERS

WHAT CO-OP/CONDO BUYERS NEED TO KNOW

Spotlight on: Annual Meeting Presentations

New York City

May 1, 2015

Presentations by board members instead of the building’s various professionals (accountant, attorney, engineer/architect, designer/decorator, property manager) result in a less formal atmosphere. On the other hand, professional presentations lend a more ritual milieu to the meeting, which may be appropriate to a particular building. You should choose what works best for you.

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Sometimes, circumstances warrant the presence of a particular professional, such as an engineer, architect, or decorator to explain a controversial capital project, an accountant to describe disconcerting financial statements, or an attorney to dispel concern over controversial legal issues. Presentations by local police and fire department representatives or politicians concerning community issues can also lend substance.

Board members should also consider when planning for an annual meeting how detailed they want their reports to the community to be, and whether the use of props such as charts or Power Point presentations is warranted. Lengthy and numerous presentations tend to cut into the time available for owner Q&A/gripe sessions.

And regardless of how detailed the board is about financial statements in its presentation, it should still distribute the statements to building residents several days prior to the meeting. This will give people a chance to review the numbers and not feel like they've been given too little time to review and have questions ready. 

 

Up next week: Agenda

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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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