Subscribe for Daily Updates!
I live in a condo in Queens and we've been very unhappy with our board and management company. The unit owners have been trying to remove the board president for over 20 years but to no avail. We were told by the Management company that the Board president is a life-time appointment and that we cannot vote her off. We suspected that the management company along with the board have been fleecing the unit owners for many years. Every time a new board member got elected, he/she either only looks out for his/her own interest, or that he/she gets kicked out of the board by one lame excuse or another by the board president. With a large assessment fee looming, we wanted to hire a lawyer and recall the entire board. We do have a 'replacement' board member selection picked out. What's the procedure ? I have a petition written up and over 50% of the unit owners have signed the petition to recall the entire board. Is that enough ? What's the next step ?
Join the Conversation Comments (4)
I am a property mgr and a board member down in Miami: I think you took the first step by getting the support of 50% of condo owners. That means you are not alone or in a minority.
Please check your condo docs as to recall procedure and as to the "livetime appointment" of the prez. It looks like that 50 % of the owners are there to change things, such as working for the community and not against it or for their own interest. Also, you have ( if not done already) to request the financials to which you are entitled to. Should give you some insight. Have a owner that is perhaps a CPA or accountant by trade look at 2 years of financials.
You have a large assessment coming, was there a transparent bid process? Have you requested detailed information about this process? If the (onsite) mgr not responsive? Contact his/her supervisor. Put everything in writing.
Perhaps the association attorney should be notified in writing, and/or the 50 % pitch in to hire another association attorney that is willing to help and perhaps extend favorable terms ( a change in association attorney) might be desired as well.
So you have options! Need more help, let me know or any other experienced property manager may well be able to help.(miaholgy@mindspring.com)
Good luck.
What do your Bylaws say? With a certain number of Shareholders votes, (as directed in the Bylaws) you can CHANGE or ADD a bylaw, that will end her term.
EMAIL POWER: Start to communicate with other Shareholders by Email, Keep everything on a business level -- no snippy or personal remarks. The MangCompany and the Board does not want to go into court with an Email trail. Write an Email every week...
Its hard -- dont expect support from the neighbors -- but if you keep everthing on a professional level -- you could change the course of your Coop -- four of us fought CityHall in our building -- and changed everything. Now, those who were afraid to support us -- are our "best" friends...
VP
your by-laws shouls dictate the procedure, follow them to the letter and also make sure proxies are mailed out and also given to people living in the building. It would be good for the most diplomatic or friend of a neighbor to try and speak to the people about what is going on and what you are trying to do. Guaranteed the mangement company and the standing board will have their letters rebutting your people handed out by board members in hopes of getting the proxy in case they do not go to the meeting. Your people should do the same, remember the most current proxy is the only one that counts. Also be aware , this is for co-ops , that if husband and wife are on the stock/share certificate,then they must also bith sign the proxy. I am not sure if condos have the same. I dont know ther laws for condo's but you should get a list of the owners in advance so if you see a solo signed proxy and know there are twonames on the deed, it is possibly it gets trashed, lawyers have to make the call on the condo law..
i have the same problem in a co-op, sponsor next mamaging company working in cahoots with board that has the managing company interest, not the co-ops interest.
we need to start nammering on our state legislators and local ones too, to get some kind of laws passed where shareholders have at least as much pull as renters in nyc.
The way the laws are now it is a totally titled towards the managing company and puppet board.
forcing me to lawyer up,
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.
I am a property mgr and a board member down in Miami: I think you took the first step by getting the support of 50% of condo owners. That means you are not alone or in a minority.
Please check your condo docs as to recall procedure and as to the "livetime appointment" of the prez. It looks like that 50 % of the owners are there to change things, such as working for the community and not against it or for their own interest. Also, you have ( if not done already) to request the financials to which you are entitled to. Should give you some insight. Have a owner that is perhaps a CPA or accountant by trade look at 2 years of financials.
You have a large assessment coming, was there a transparent bid process? Have you requested detailed information about this process? If the (onsite) mgr not responsive? Contact his/her supervisor. Put everything in writing.
Perhaps the association attorney should be notified in writing, and/or the 50 % pitch in to hire another association attorney that is willing to help and perhaps extend favorable terms ( a change in association attorney) might be desired as well.
So you have options! Need more help, let me know or any other experienced property manager may well be able to help.(miaholgy@mindspring.com)
Good luck.
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.