One more question, different topic.
I currently live a new Co-Op. We have been in existence for 3 years. All communication to our Board has to go through our management company. Questions, complaints, compliments have to be emailed or called in to a head contact at the management company.
Is this common? And how do you handle a case where you want to complain about the management company. Not that I want to as this time but these are things I wonder about.
I currently live a new Co-Op. We have been in existence for 3 years. A good portion of our Shareholders are pushing for an online space to communicate while our management office is strongly against it. They keep screaming liability issues.
Can others list to me benefits or problems they have experienced with doing this?
How should we deal with our management company which is opposing this?
Can others recommend a hosting site?
Tips?
How are these sites moderated?
Costs?
Thanks!
Fellow Board Talkers -- A few years ago, shareholders in my co-op (The Pinehurst) asked the board if our building's maintenance was higher, lower, or about average for our neighborhood (Hudson Heights).
To find out we started taking note of the sales published in The Times' Sunday Real Estate section. Recording the maintenance fees and square feet of co-ops, then dividing the fee by the square feet, we were able to come up with average maintenance fees per square foot for Manhattan co-ops.
Midtown East was at the top in both years that we did the study, 2006 and 2008, at $1.60 per square foot last year.
Take a look at the chart for yourselves. It's on the Residents' page of our web site. Either Google "Pinehurst apartments residents" or point your browser to www.thepinehurst.org/residents.htm
You can see the chart and, if you're really interested, you can download the data, too.
Just remember this info isn't scientifically gathered or vetted! It's based on the sales that happen to appear in The Times. Only neighborhoods with at least five sales in a year are on the chart.
Take a look and let me know if you have any questions, suggestions, or corrections!
Folks,
I highly recommend this publication ()$110-$140, based on options)
N.J. Condominium and Community Association Law
Paperback Edition: 2009
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http://www.gannlaw.com/OnlineStore/Main/about_product.cfm?book_code=209
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Synopsis
N.J. Condominium & Community Association Law
With revised Master Deed and By-law Provisions
By Wendell A. Smith and Dennis A. Estis
A practical treatise, by an expert in the field, this book contains a detailed discussion of the legal, financial, and marketplace requirements imposed on developers and the consequences of these requirements for lenders and individual unit purchasers. By means of a point-by-point treatment of the provisions of a master deed, by-laws and other critical documents, the book highlights solutions to problems frequently encountered in the creation and administration of common interest projects. It includes statutes, regulations, sample documents and discussions of significant cases.
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Paperback Edition Commentaries Are Current Through: 196 N.J. 365; 402 N.J. Super. 453; L. 2008 c. 88
The "What's New" Feature Brings The Online Edition Current Through: 196 N.J. 542; 403 N.J. Super. 585; 172 L.Ed.2d 452; L. 2009 c. 14
Our building is considering going inhouse with our laundry facilities. This would mean us buying the machines, dealing with servicing, etc.. Are there any buildings out there who have done this and can give me some pointers on what to expect. Thanks
...on a story I'm writing -- in response to concerns right here on the Board -- about the ins and outs of handling tax rebates/refunds for condos.
If you'd like to take 10 minutes to speak with me for my story, please contact me via e-mail at flovece@habitatmag.com or phone 212-864-5597 today (Thursday, Feb. 12)
Thanks--
Frank
Our coop is about to begin a capital project that will require a relatively small mortgage (we currently have none). One of our wealthier shareholders has made an unusual offer: she wants to lend the coop her own money, at an interest rate considerably more favorable than any bank.
I remember reading an article about such a situation; has anyone had any direct experience? Is the interest paid to the shareholder/lender tax-deductible just like a conventional mortgage? Of course we're going to discuss this with our attorney before deciding anything, but I'm interested in hearing from people who have actually made -- or at least contemplated -- such a deal.
the usual street snow-melting salt is very hard on dogs (to say nothing of the environment) - there is an alternative - anyone know?
Does anyone know if the improvements made upon moving into a new Mitchell Lama apartment are tax deductible? This would include lighting fixtures, new flooring, cabinetry, etc. Thanks for your input.
In our condo building of almost 40 units, we have had great problems with our management company's handling of the A/C bills. Many people seem to be overcharged.
Please help with these questions:
1- Is it true that individual unit meters should be read monthly by by a company rep and then set back to zero? This has not been happening here. Instead, the meters are never set back to zero, and just accumulate.
2- Is the management company required to present pictures of the meters with the financials they provide the building?
3- In your experience what might be an average condo A/C bill during the warm season for a unit of 1,400 square feet, 750 square feet, etc?
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