Hi,
Has anyone heard of a company called Bright Power? One of our Board Members has been in contact with them regarding Solar Electric. They seem a little too eager (initially reminds me of a pre-crisis mortgage lender a little). Has anyone dealt with them before and if so, how were they?
Thanks,
Steve
I live in a small co-op (32 apartments) that recently refinanced taking an additional 400 thousand for the reserve fund. Prior to this we had 2 assessments that were made permanent and then had a 14% maintenance increase on top of that. Currently there are 6 or 7 apartments for sale, including mine, but no one is even looking. According to my real estate agent the first hurdle is getting someone into the neighbor hood which is shaky since it boarders on an extremely high crime neighborhood (2 blocks away). Then we have a high maintenance fee, limited parking (16 spots with a waiting list), and a flip tax (which used to be paid by seller but was recently change to buyer pays/six of one half dozen of another if you ask me). The previous MA was let go, but under his rein the building deteriorated and is in need of much repair. The building is old (approximately 80 years) and quite charming otherwise, large rooms and ½ of the apartments have working fireplaces.
One serious issue is that the windows are also 80 years old and most of the share holders would like to see them replaced. Also under the previous dysfunctional management shareholders were told that no money was available to replace windows. At this time they were advised that if they wanted new windows they could purchase them on their own. Since some of them chose to do this it is a source of contention among them that others will be getting new windows while they paid out of pocket. Also according to one board member the source that shareholders were told to use for the new windows basically ripped them off (she used the term “hoodwinked”). In this case I think all the windows should be replaced rather then financial compensation to those who purchased on their own, which is now being considered. At a recent shareholder meeting some of us pushed for new windows and told that it was under consideration, but that it was very expensive. Some of us were under the impression that new windows were going to be installed this summer. But in further discussion with a board member it may be more then 2 years before we get what we want (new windows). Instead they are considering new mailboxes, intercoms, and refurbishing the workout room which no one in the building uses, along with some other major but necessary repairs. In speaking with another shareholder she thought that getting a petition signed by shareholders may be the way to go. Does anyone know how this works, and if petitions are a viable way of having our voices heard and responded to?
Thanks for any and all advice.
Our co-op distributed notices warning residents that air conditioners could be damaged if they are turned on when LL11 facade work is in progress outside the windows, even though the contractor places filters over the AC.
Could the co-op be responsible for AC repair costs?
Our coop maintains building employee personnel folders that includes any counseling or disciplinary memos.
- Can individual Board members request access to these records?
- Are they part of the business records that any shareholder can review?
We've been a self managing condo for the last 2 years
mainly rental units owned by absentee (oversees) landlords but 4 owner occupied units
looking for recommendations for a management company with experience in dealing with a small building such as ours that could provide basic management services economically
Thanks in advance
Small co-op formed in the 1980's by residents in the building which ran the board until late 2000's. Mostly, they "ran" and controlled everyone new to building. The commercial space which was sublet by a second Corp. (run and owned by original coop members) income went directly to them and they paid the coop very low "rent" . It's only been the last 5 years that a new board was voted in and the PL , Houserules and protocols were put in place.
The board is now asked by one of the original founders (who had been Board President for 24 years - doing very little to upgrade building and mostly was self serving) to "waive" the process for adding his new wife to the stock cert. His wife has also been a resident since 1980's. His position is that he and his wife have been residents of the building for over 20 years and shouldn't have to follow protocols for "new" people coming into the building. There is also fees involved which go to the managing agent (not the building) for processing fees.
The process, btw, is similar to refinancing requirements etc. Credit and lein checks, recent tax reports, etc.
Any thoughts on this? We waive it once then it must be waived for all.
i have been in this coop pre conversion. two of the original owner apartments have not been occupied by their owners since 1985, the conversion.
there are non unsold share apartments that ave been rented for over twenty years.
everything is a fraud , conflict of interest . sponsor hand picked board .
complain and retaliation is taking out against you. including using coop records for this action, only me getting the financials 1 day after the annual meeting.
The building is has more renters than owners now, They let people buy owner occupied apartment and let them treat them like unsold shares/rent them out. 1985 conversion and they let a non bonded board member buy a unsold share apartment. grifter family on board didn't pay sublet fees for over 20 years, they had their family members live in the apartment for 5 years before renting it, therefore it is not unsold shares.
Now they tell me that the board will not recognize any committee i form.
The board really thinks they are beholden to the managing company, but since the managing company put them in there , they are serving the managing company first.
brace on , cant type well
Homeowners during a recent meeting have asked why the board has not created a large enough reserve fund to pay for the now estimated $15m window replacement . In our annual audited financial statement there is always a paragraph that says " the board has elected not to estimate the costs of repairs and replacements". Do most condo do this?
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We live in a condo, where one of the board members stole the reserve funds.Now they need repairs around the buildings(40 units),roofs, siding.
No improvements has been made since 2008.Now they want to raise the
maintanance fee to cover the expenses ($125.00-150.00)monthly .
My husband is retired, I;m on dissability due to a major surgery, we cannot afford it.What can we do?
I live in a co-op that I detest and have it on the market but it looks like it may be quite a long time before I am able to unload. I have taken in a roommate because I feel unsafe here and he has been with me for a year now. My co-op has a no rental policy. I am wondering if I can just leave him here since he has already been a tenant for a year. Should I have him write a checks to cover the maintenance so that his residency is more established. Should I present him as my significant other? The board is hostile and irresponsible and I don't trust them. They have different rules for board members and I want out desperately. I would like to leave my friend here since the location works for him. Meanwhile I would like to move on to greener pastures,
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They had contacted our building last year. Everything sounded good - no cost installation and maintenance of panels, they would charge us a fixed flat rate guaranteed to be less or equal to Con Ed rates, and they would profit from excess power being sold back to Con Ed. After they did a site visit, we never heard back from them. Emails, phone calls, no response. No explanation.
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