i have seen many articles w2here the attorneys are mainly working for the board or managing company. I have seen articles in the cooperatoe where the answer was slanted towards the boars/sponsor /managing company, they conveniently left out the option of the shareholders ability to call for a special meeting if they get the number of votes stated in the bylaws. Plus the attorneys i have talked to , worked primary for the board,
Also even in the habitat , the info one attorney has in print concerning getting fellow shareholder address info, is not what the attorney general states in their web site..
Are there any Attorney that mainly work for the shareholders?
looking for westchester here.
Also if there is no quorum at the annual meeting and 2 spots are up for reelection, are the incumbents automatically reelected
I'm writing a story about co-op boards that have found ways of working with a really, really objectionable shareholder to avoid evicting him/her under a Pullman action.
I'd like to speak with a couple of such board-members to get your firsthand, real-world experience in this.
Anyone interest in helping other board members learn from their experience or mistakes, please contact me at flovece@habitatmag.com and we can set up a time to talk by phone. Thanks.
Our board has frequent meetings whereby they order lunch not only for themselves but family members are seen carting multiple take out bags back to their apartments. This is not the only means of corruption they have and because I have exposed much more serious corruption, I am constantly harassed by renters banging on floor above me and lifting weights in middle of night – the last renter who did this was rewarded by a seat on board. If this continues, I will be posting more of their corruption.
Has anyone installed water meters to monitor apt water use? Has anyone done this and actually billed the shareholder for their prorated water bill amount? We are just thinking out of the box, but wanted to see if this is common.
> Join the conversation Comments (2)
1. I am looking for a consultant to review my Co-op's property tax assessments, the City's comparables in its database and our offers for reduced assessment we have received and accepted. I am not looking for someone to take over our property tax challenges. Any ideas?
2. A related question is I am looking for a third party database of reduced Assessments for Co-ops since nearly every co-op challenges its assessment and probably receives some offer of reduction. There must be a systematic database of that. Hopefully a consultant I would hire would be familiar with that.
3. i'd like some suggestions for new counsel to challenge our 2014/15 assessment but more importantly I'd like to know how one can measure their performance if every co-op challenges and gets an offer of reduction.
thanks for any help you can bring on this subject.
The only candidate speaking of an issue near and dear to coop owners hearts and wallets is Joe Lhota, who has stated that the way in which coop apartment building values are assessed is unfair.
FINALLY! This issue needs more attention.
We coop owners have been hosed over the last 10 years.
What do you think?
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Q. Our co-op has a new house rule barring shareholders who have home-based businesses from having clients or customers come to their apartments. This is in direct conflict with the lease, which states that we may have any home occupation permissible under local zoning laws. How can we persuade the co-op board to rescind this rule? And if we can’t, what can the board do if we violate it?
A. If a new rule materially alters a shareholder’s rights and obligations, it may not be enforceable, because, it can be argued, it is an impermissible change to the terms of the contract between the co-op and the resident, according to Matthew J. Zangwill, a Manhattan real estate lawyer.
A co-op’s proprietary lease is the principal document that sets forth the dos and don’ts of daily living in a co-op, and the house rules are usually part of the proprietary lease. The lease, which is a contract between the co-op and the tenant/shareholder, usually gives the board of directors the power to adopt new house rules without the consent of the shareholders, Mr. Zangwill said. But a new rule would not be enforceable if it changed the terms of the contract.
One of our staff members physically attacked a resident. There was no provocation or justifiable reason for it. He pushed the person and grabbed them He has a very aggressive streak having yelled at and blocked residents in the past. Should he be fired? He is not in the union.
> Join the conversation Comments (3)Your article about what employers must due by Oct 1 should have listed this information - "Most small employers, those with 50 or fewer full time employees, are not required to offer health insurance coverage under the Affordable Care Act. Even businesses with more than 50 full time employees have gotten a 1 year reprieve from penalties if they don’t offer insurance. But all companies, regardless of size, are required to notify their employees about the Affordable Care Act marketplaces."
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Our coop needs to raise 500,000 dollars over the next year for capital needs, and is considering doing it through an assessment, which would equate to approximately $400 per month for the average shareholder. Pros and cons?
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sorry my spell check didn't highlight the above mess and i cant fix it.
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