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Employee of Management Co. Secretly resides on Board - NYC Oct 16, 2019

No one wanted to run for the openings on our board this past election. There was one available seat that shareholders assumed was just not filled.

Usually there is a posting with names and positions held of the new B.O.D. this year that was not the case.

It recently came to light, unbeknownst to cooperatives, that an employee of the management company was listed as a board member.

Is this a legal and executable practice?

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A few thoughts...

First thing to do is check your by-laws. They probably state who can serve as a Board member. Mine state that the Board member must be a shareholder in the corporation. If yours state the same thing and the mgt person is not a shareholder, then they must be removed from the Board immediately.

How did you learn that the mgt person listed as a Board member? Just curious.

You say there was one vacancy on the Board, but no one wanted to run. In these situations, the Board usually has the leeway to fill or not fill that position until the next election.

Good luck

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> Join the conversation Comments (1)

Thanks Marty, I am not at liberty to discuss how I became privy to this information.

Our by-laws do say that to be on the board you must be a shareholder in good standing and yes when there is an empty seat, the board can appoint someone until next election.

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Elevator service company esp small residential - dlasday Oct 16, 2019

Any recommendations for reasonable elevator maintenance company esp ones that would take on a two family townhouse. We happen to have original Otis drum mechanism fwiw.

It appears to be easy to find not-great companies

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Confidentiality and Committee Members - H. Sep 22, 2019

I understand that Board members must keep confidential much of their information.
But if there is a voluntary committee - say on laundry room and vendor issues - with a Board Liaison - are the committee members required to keep information they have confidential?

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I think that confidentiality applies here. Seems that the voluntary committee is acting as an extension of the Board because they are gathering information on issues affecting the co-op, and the Board will later use that info to make decisions.

Here's a good rule of thumb to keep in mind - When in doubt, keep it confidential.

So much of the Board's time is now taken up with legal issues that a judgment error could result in a lawsuit. Better safe than sorry.

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My niece and nephew came to spend the summer with me. My downstairs neighbor complain to management. Can I be evicted for this.

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No you can not be evicted. I would have carpeting covering 80% of your floors. Next time go to your neighbor and say you have guest staying with legs and feet so you may hear some noise.

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Do you reside in a coop? If so, are there rules about overnight guests? There may be a procedure to follow.

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Remortgage - Queens Sep 18, 2019

The mortgage on my co-op will be paid in full next year.

Rumours are out but no official announcement that the board is going to remortgage the co-op for repairs.

Does the board have to present to the shareholder/owners estimates from contractors of the repair work scheduled to be done. The order and manner the repairs will commence?

Are the shareholder/owners entitled to vote on the amount being borrowed?







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First of all, have you asked any member of the Board if there will a remortgage? Don't listen to rumors. Go directly to the source and ask them yourself.

Generally, the Board does NOT have to present estimates to the shareholders and the shareholders don't get to vote on the amount being borrowed.

The Board was elected by the shareholders to make these types of decisions on behalf of all of the shareholders.

Kind of like voters electing our representatives in Washington to make decisions on behalf of the voters.

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Thank you Marty, I get it. Actually I have spoken to one board member who secretly confided in me and said they were going to take out a new mortgage once the current one was paid off.


Unfortunately there is zero disclosure in my co-op. Shareholders would find out about the new mortgage after the fact. I just wanted to know if shareholders had any say in such a major decision.

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So the co-op is just about done paying off a mortgage and its monthly financial obligations, and now the Board wants to repeat that process. Why??

It’s one thing to refinance an existing mortgage. It’s another thing to get a new mortgage after you’ve completely paid off the initial mortgage.

Ask your Board member why. I’m guessing that the new mortgage may provide the Board with a line of credit or some other access to money if the co-op needs it quickly.

Of course, the co-op would then have to repay that line of credit money with interest. That’s not good for the co-o’s bottom line.

The Board has the alternative of doing an assessment which at least would have no interest attached to it.

Ask that Board member why the Board wants to take that approach. Perhaps there is a situation that you’re not aware of at this moment.

Good luck.

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The co-op is old and in need of many repairs.

The annual report said we we in the RED. Our reserve and operating accounts are low.

That is why I was questioning shareholder rights when taking out a major loan/LOC and was hoping we would have a right to see how much and where and what the $$$ was going towards.

I as well as other shareholders, would prefer an assessment but apparently we do not have a choice unless we go the route of a petition and special meeting.

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What surprised me or make me question taking another mortgage is that the co-op that go up for sale, sell very quickly. They are not all cash sales so how are the banks giving mortgages after reading our annual report and financial statement.

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Every Queens co-op is old and needs repairs. lol

Banks that give mortgages are more concerned with the ability of the s/h to repay the loan than if the co-op survives.

Does your co-op have a flip tax? If so, ask the Board member if flip tax revenue is part of the budget. It shouldn’t be since apartment sales can vary from year to year and thus cannot be relied upon. They should be put in the co-op’s reserve fund and not included in the budget.

Has your co-op always been in the red or is this just a recent occurrence? Ask the Board member.

If it’s something that only recently happened then that’s understandable. However, if this has been an ongoing problem then perhaps the Board is not planning well enough for the long term.

Have you had yearly maintenance increases and/or assessments? How is the Board planning to get out of the red?

You are wise to ask these questions. Continue to do so. Get a petition or a special meeting organized.

Bottom line - this is YOUR money! If the co-op fails, all s/h are in a tough spot. Do your best to prevent that. If that means being a pest, so be it.

You and others have every right to know where your money has been spent and what plan of action the Board is taking to fix the situation.

Every co-op faces the same financial challenges as yours. Fight for your money!

Good luck!

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Supers unit - Connie S Sep 11, 2019

I think I recall supers unit is not subject to property taxes, if they get the unit as compensation for their work , but if it is rented out by the condo to an individual you have to pay property taxes... Is this true?

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Elective Fees - Crystal Sep 11, 2019

How would you introduce the following to be fair and consistent in your practices as a board. We currently have bike racks on property at no charge, however with the increasedd numbers it makes since for accomodation purposes to offer paralell racks the residents/owners will rent/purchase from HOA with free installation. Dog owners have asked for a fenced area on the property should the cost only be assessed to pet owners as we donot charge a pet fee at this property ? Finally we have a compost program where on 20 participants have paid to participate, if we open it up should there be a charge for only participants or all residents. curious what your thoughts might be.

Thanks in advance,

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J51 - marym Sep 09, 2019

We are about to complete a façade restoration on our small co-op (12 units) at a cost of $250,000. Is it advisable to file for J51? If so, does anybody have recommendations on professionals who do this?

Thank you very much.

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Superintendent - Best Sep 05, 2019

How many buildings or Supt responsible for

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I'm sorry, but I don't understand what you wrote. What information are you looking for?

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change of bi-law (condo) - rg Aug 24, 2019

We are in the midst of changing our one of our bi-laws and need 66 2/3 of the residents' votes. Do we have an obligation to protect the privacy of those residents who do not wish to vote?

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I think you absolutely have to respect their privacy. Those who don’t wish to vote means they are a no vote and you need 2/3 approval to amend the by law.

Are you trying to embarrass or identify them to other voters simply because they won’t support the by law amendment? That’s what it sounds like to me.

Hope I’m mistaken.

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what you are asking is can you shame/bully people into voting. Absolutely not.

Sounds like harassment to me and
In New York bullying is defined as threats, intimidation or abuse.

Have you considered sending detailed Information to all shareholders, which by-laws you want to change, the reasons and the benefits?

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By laws and new LAW?? - Connie S Aug 15, 2019

We are a condo and a by-law states that we have the right to charge the unit owner our legal fees in regards to defending our by-laws if a law suit insues. OUR CEO said that as of june 1st , you can no longer charge a unit owner the lawyers fee in regards to defending the by-laws. We live in NYC.Has anyone ever heard of such a thing. Or that a City law can supersede the by-laws made by NYS?

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It IS possible for NYC/NYS law to supersede by laws. The horrible Roommate law is an example of this for co-ops.

I would ask your CEO to cite which law has changed that now prevents you from recovering legal fees as your by laws state.

If he’s telling the truth, he should be able to explain what has now changed.

If he can’t and/or won’t explain, then he’s probably full of it.

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Your CEO might have been referring to the new law “Housing Stability and Tenant Protection Act of 2019” which places a limit on what monies can be collected by a landlord in a summary proceeding.

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