We just had our annual shareholder meeting and it was a disaster. We found the board changed the voting to a staggered voting system without notice to the shareholders. The by laws state that every seat is up for re election every year and it was never changed. There is nothing in the by laws stating the board can change bylaws whenever they want. House rules? Yes. But not the by laws. The President stated he is retiring next year and his daughter has cheated her way onto the board. She was sitting at the board table going through documents and dealing with paper work before she was even voted on the board. She was laughing with the co-op attorney and were all friendly. My wife was running for a seat because she truly wants to help make a change. She is not with games and b.s. She is worried something is going on. The meeting date was changed a few days before the meeting when it showed my wife was the only person new running which basically guaranteed her a seat. Then all of sudden 3 more candidates entered their name. The daughter was going around both buildings collecting proxies from shareholders who knew no better and was asking if they were voting for my wife.
The meeting was so crazy that management stated they will count the votes over night and results will be emailed. The daughter was the only running candidate that won a seat on the board. We all know the daughter is going to slide into the President seat next year.
I found out she is involved in lawsuit with another co-op where our former management company is suing her and the board over at the other co-op. That management company left last year and when we had our meeting last year the board stated $150,000 in bills were not paid and at this years meeting they still have no answer. They are blaming the other management company. I think the attorney is corrupt also.
Me and my wife are not ready to move and buy a house yet. I wanted to know what can be done to try and stop this from going on. All of these shareholders walk around scared of the board and I cant believe it. This is the kind of horror stories you see on news when its too late to make a change the something bag happens to all the shareholders.
I would appreciate any kind of help in pointing me in the right direction.
Can Condo boards require that every unit have a working smoke alarm? If one apartment has a non-working alarm, and a fire starts in that unit, it can spread throughout the building endangering everyone. I realize a benefit of condominiums is that there are fewer rules and regulations vs. cooperatives, but an owner with a non-working smoke alarm is putting everyone in the building at risk. Thanks for any advice.> Join the conversation Comments (1)
What is the going rate for Architectural plans for a small galley kitchen ? And does such cost include a letter of certification with seal, along with the floor plans showing the scope of renovation?> Join the conversation
I understand that when something needs repair, anything "in the walls" in a coop is the responsibility of the coop/management, and anything within the apartment is the shareholder's responsibility. BUT...
I had no problems/issues with my kitchen faucet. It worked fine. Because of other plumbing issues in the building (I don't know what), my apartment line's water was shut off. After several hours, the water was turned back on. I immediately opened all my faucets to allow the dirty water that always occurs to flush through until it was clear/safe. All faucets worked fine except for my kitchen. After the flow of filthy water, it then sputtered, and stopped altogether.
I immediately texted the super a video, asked him to show the plumber (who was still on the premises), and have the plumber come up to my apartment. Regardless of the problem, the plumber said he was leaving, and left, leaving me without water in the kitchen.
He came back the next day, spent less than 15 minutes to clean the trap on the faucet, doing what I could have done for free had I known it had nothing to do with the work he had done... which precipitated the problem in the first place.
I just got a bill for $460+, on the plumbing company's letterhead, via the management company.
My issue, aside from the audacity of this charge, is that their turning off the water is what created the problem in the first place, so that the charge—even if the issue was in the faucet—is not mine to absorb.
I am going to try to fight this directly with the plumbing company b/c my management company is less than helpful. I don't have the means to hire a lawyer.
Any advice/thoughts? Thank you so much.
What do you think of a Board hiring a construction company to work on a project but then they hired a subcontractor? the contractor is overseeing the subcontractor. Why??? To me that doesn’t make sense. Shouldn’t the engineer company oversee the construction company? Why do we need two construction companies unless someone isn’t insured properly. They didn’t hire a huge engineer company so that could be the case. They assessed the damage etc but that’s it. I’m also assuming its also cheaper. The two Construction companies working together are going to agree with anything that’s done but if the engineer company oversees it then it’s fair and a neutral.
The board of directors has changed the resale policy without consulting with the rest of the shareholders and didn't even notify them after changing it. It is now much harder to sell/buy an apartment, because our coop is already an HDFC building, but the board decided to put even more restrictions (for example, the buyer cannot buy the apartment for cash and cannot have more than a certain amount of assets). Is it within the board authority to change the resale policy without the approval of the majority of the shareholders?> Join the conversation Comments (2)
I have found myself in a peculiar situation, and I have no idea where to turn to in order to get some sound advice. I'm hoping you can help!
I recently had an offer accepted on an HDFC co-op. Initially, when I first reached out to the agent listing the property, I was told I made above the income cap so I would not qualify. Later, he got back to me and told me that the income cap had been raised, and I now qualified. This is all in writing.
Fast forward to now and I have already completed a home survey, and my lawyer has gotten me to the point where I am just about to sign the sales contract. Unfortunately, he received communication from the sellers lawyer that neither the seller, the lawyer, the co-op board, or the co-op board president had been told that the income cap had been "raised". The seller's lawyer has said said that if I try to proceed, it will mean that I am negotiating in bad faith. The agent that I have been dealing with has said multiple times that it is fine, and that he has received explicit permission from the board president to allow me to proceed with the purchase. He has suggested that the problem is with the coop board not being able to put anything in writing, and that the sellers lawyer is just being overly cautious. It's all very strange I know, but why would the agent take me so far down this path if he hadn't cleared everything with the co-op board already?
My question is: can an income cap be raised for a purchaser who earns more than what is stated in the co-op policy, or is this figure written in stone.
Hello, I'm concerned that my fellow board members do not have a clear understanding of what their responsibilities are as fiduciaries for the condo association. Could someone please provide me with an up-to-date article on the fiduciary responsibilities of board members? These are not explained in our condo by-laws, but as I understand it New York State/ City regulations stipulate that elected Condo and Co-op board members act as fiduciaries for the Condo/ Co-op association. A definition of "fiduciary responsibility" as part of the article would be helpful. (In doing a search I did find a couple of articles, but they were from about 10 years back. I think my colleagues need to see an up-to-date article) Thanks.> Join the conversation Comments (1)
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