Subscribe for Daily Updates!
Last year our coop board met for the annual election and after that meeting they were never heard from again. Nobody knows who is the president and there has been no communications at all. Is this a violation of coop bylaws or just stupidity?
Join the Conversation Comments (3)
i just looked at my coop, it list as ceo someone that resignes about a year ago, only the ceo is listed per the site.
i would like to find out who gets star in this building, board and managing company won't give me info on anything, coops are all fraud and the biggest real estate scam , soon to be outed
A couple of questions:
* Was essentially the same board re-elected or is this an entirely new board? If new it could simply be stupidity (naivete). If the same board, I would be concerned.
* If this is a re-elected board, did they exhibit the same behavior before they were re-elected? If the same behavior, then sadly you knew what you were re-electing. If it is a radical change, I would be concerned.
The suggestion about contacting the managing agent is a good one. Keep in mind, though, that the managing agent company is hired by the Board and answers to the Board. They may defer to the Board when answering your questions.
Were the votes counted at the meeting or afterwards? Were any of the positions contested? Are there any big money projects going on or scheduled to start soon? If this is an experienced board whose way of doing things has suddenly changed, it bears looking into closely.
In buildings that I manage I like to take the opposite approach and give as much information as I can, in order to avoid issues such as these. We'll often post the Board / Officer list in the open area of the building and will send out a Shareholder / Unit Owner mass e-mail notification with this information as well.
our board meets monthly, we have an email address that shareholders can use to contact us and the names of the board members are posted each year a day after the annual meeting. can a group of shareholders get together and request that the board start doing what they should be doing?
I'm with Mark - communicate, communicate, communicate. We implemented a Suggestion Box (2) buildings and everything posted monthly (non names). In the list we report "Kudo's", "Questions" and "Concerns". And we even include criticisms about the Board. This way all residents can see the Suggestions and boards responses. We also post a Board Meeting Highlights Bulletin after each meeting and just started a bi-monthly newsletter to fill in any communication gaps.
It depends on your board operations By-Laws or Rules & Regulations. In ours the co-owners can request a Board meeting and there is nothing preventing them from issuing a petition against something. If your board is not "doing what they should be doing" who else other than your shareholders are going to tell you?
Introduce yourself to other members of Board Talk! Log in below or register here.
Board Talk members who registered prior to March 9th, 2016 will need to reset their password.
It's poor communication by the board and management co. The bylaws and proprietary lease woulddefine the requirements, if any, following the election. If you are in NY State, the department of state requires that corporate ownership information is kept current. http://www.dos.ny.gov/corps/bus_entity_search.html
allows you to search for the current data. You can contact your management co. as well and ask for the information. They would normally be present at the meeting where the elections were held and should see that the State info is updated as required by law. You can also speak to any of the previous board members and ask them if they know who the news ones are, or ask the super.
Thank you for rating!
You have already rated this page, you can only rate it once!
Your rating has been changed, thanks for rating!
Board Talk members who registered prior to March 9th, 2016 will need to reset their password.