Subscribe for Daily Updates!
We are a pretty "young (unseasoned) Board of Directors" and are confused as to what is the financial responsibility of our Mgmt. Co with issues of repair & maintenance to their sponsor units. They pay maintenance for their sponsor apartment & claim they are entitled for the same repair & maintenance as Shareholder apartments. Where is the line drawn on what type of work they must pay 100 % for their units? We are located in Queens NY and we are a CoOp. Thank you.
Join the Conversation Comments (2)
Hi Jacqueline,
The first thing your board should do is speak to your board attorney and ask these questions of her/him. The answers may be in your offering plan or other Co-op documents, but these are pretty hefty tomes and you would benefit from professional interpretation.
By "board attorney" I mean an attorney who is retained and paid by the *board*, and not by the Sponsor. If you go to the Sponsor's attorney, you will receive answers favorable to the Sponsor.
If your board has not yet formed a relation with an attorney (independent of any Sponsor or MA involvement), that should be your first order of business. Contact the Council of NYC Cooperatives or go on their website for a list of attorneys who specialize in Co-op and Condo law. Do not use Uncle Fred or the lawyer who handled your negligence case. You need someone who if very well versed in Co-op law.
Thank you, Steven this was very helpful.
The coop is responsible for a very limited amount of repairs within an apartment. Generally, the windows, entrance door/bottom lock and plumbing within the walls are a coop's responsibility. Everything else is the responsibility of the unit owner, which would include the sponsor unsold shares. Check your proprietary lease for specifics.
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.
Does anyone have a comment or advise on the matter?
It would be appreciated.
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.