Randolph Gerner, a New York City architect, has been instrumental in the renovation and decarbonization of his building, saving $700,000 and meeting LL97 carbon-emission goals for the next 40 years. (Print: Taking Charge: Randolph Gerner)
Randolph Gerner, a New York City architect, has been instrumental in the renovation and decarbonization of his building, saving $700,000 and meeting LL97 carbon-emission goals for the next 40 years. (Print: Taking Charge: Randolph Gerner)
Boards must decide on the right amount for holiday bonuses, taking into account the salaries of supers, doormen, concierges, and porters, as well as individual cash tips from shareholders and unit-owners. (Print: Handling Holiday Bonuses)
Boards must balance transparency with protection of sensitive information when responding to shareholder or unit-owner requests for corporate documents, while also fostering communication between the board and residents to reduce document request overload.
Local Law 14 requires multifamily buildings with three or more units to adopt a written policy on smoking, and boards must balance the rights of smokers and nonsmokers while enforcing the policy through fines and court actions if necessary.
Boards have a duty to investigate and mediate persistent and disruptive behavior, such as excessive noise or hoarding, in order to ensure the health, safety, and comfort of other residents, and may consider legal action if the issue cannot be resolved.
A recent New York condo case has highlighted the potential consequences of board decisions being deemed in bad faith, with board members facing personal liability and potential insurance premium increases.
A code of ethics is essential for board members to prevent violations of their responsibilities to govern fairly, and a written code of conduct can help prevent problems.
Construction contracts can be complex and often favor contractors, but boards can negotiate cost controls, proper insurance, and retainage to ensure a successful project.
Boards must proactively monitor and manage building violations to avoid financial implications, reputational damage, and legal fees, as unit-owners and shareholders are typically responsible for conditions inside their apartments.
Co-op boards should review their governing documents to ensure that repair responsibilities are clearly defined, and alteration agreements should be clear to prevent disputes over who is responsible for repairs.
Co-ops must comply with the Corporate Transparency Act by filing beneficial ownership information with the Department of the Treasury's Financial Crimes Enforcement Network by January 1, 2025, or face penalties. (Print: The Corporate Transparency Act)
The board president of a building in Chelsea was found to have crossed a line by aggressively soliciting donations for a lobbyist fighting the city on the placement of a 5G tower, and was advised to consider the potential consequences of such a request. (print: Keep Your Opinions to Yourself)
Boards must carefully consider lien priorities before deciding to foreclose on a unit-owner in serious arrears, as condos are subordinate to both the mortgage and real estate tax liens, and swift action is necessary to recover unpaid charges.
Boards should carefully vet contractors, obtain surety bonding, hire construction managers, and have robust alteration agreements to protect their property from construction chaos and potential liens.
A Washington Heights co-op faced a $400,000 bill for a deferred maintenance issue due to a single sewer system that combined both the sanitary sewer outflow and storm and runoff water, resulting in flooding in the first-floor apartments.