Boards should alert owners of jointly owned units to review their estate plans.
Boards should alert owners of jointly owned units to review their estate plans.
Use common sense when sorting out religious disputes.
Review your existing mortgage terms and calculate your losses before refinancing.
How to Collect Unpaid Common Charges
After a flood, know what your fiduciary responsibility requires you to replace.
Meet with the building’s managing agent and engineer to create a plan to deal with leaks.
Remind unit-owners with fireplaces that they are obligated to maintain them.
Be certain that renovations in your commercial spaces are lawful.
Review the proprietary lease to see how to terminate a shareholder’s interest due to bad conduct.
Appoint a committee to address issues with rogue board members.
Be aware when dealing with transfers, and trust your transfer agent.
If you reject a purchase price, the decision must be in the best interests of the co-op.
Set up training procedures for new members and meet with your professionals as soon as possible.
If a rule-breaker insists on defying the board, take him or her to court.
Assemble a team of professionals and don’t be afraid to make waves.