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Does a shareholder have to inform the board and/or managemnt that they are putting their apartment on the market prior to receiving an offer of purchase?
What do your bylaws or house rules say? That is what you have to go by.
there's nothing in the pl, bylaws, or house rules other than the "transfer of sale" rules. should we put something in the house rules? in the past board was always kept informed. there are still some bitter shareholders who got voted out and they continue to make life difficult for new board.
It sounds like there are two issues here: (1) rules for showing apartments, and (2) dealing with disgruntled ex-board members.
The board should come up with a set of guidelines for showing apartments on the market. They should include things like allowable viewing hours and days, require the seller or broker provide front door security (if a doorperson isn't on duty), limit the number of people allowed to see the apartment at the same time, etc. Procedural, safety, and security common sense items.
Dealing with disgruntled ex-board members is a different. The new board cannot be vindictive or approve any rules or regulations which have the appearance of being aimed only at the disgruntled shareholders. If the current board has the support of the majority of shareholders, they should not be overly concerned.
Yes there are two separate issues. This can be remedied by the board not being vindictive or secretive. Especially in the case of a very small co-op which has no arrangement or accommodation for ease of communication, no common space where everyone comes together except the one annual meeting. The board holds more than enough shares as currently comprised and still feels threatened by these "bitter" ex-members? Really? The board is there for all shareholders, and this attitude is poisonous indeed. One reaps what one sows.
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Not that I've ever heard. Just make sure the Seller, whether you or broker, adhere to all the rules about showing, etc.
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