Has anyone had experience switching from Con Ed to an ESCO? Lower energy costs, locked in rates, no sales tax all sound attractive. Which company would you recommend?
One shareholder in our small building is infested with mice for almost two months now. He's neat and clean and not his fault. He's got them running across his livingroom and kitchen day and night. We have the building exterminator treat unit, still at least one a day ends up in a trap. We doen't know why this is happening now. Only two things have changed: shareholder below him got two dogs and a cat (could pet food be left out? Why would that send mice one flight up?) Other thing is we replace baseboard heating in unit with identical ones. Exterminator stuffed holes in wall around pipes with steel wool and seems mouse-proof. What is the next step for the Corp? Aren't we responsible for doing whatever it takes to alleviate the situation? Are we in violation if the prop lease states landlord will keep the building free of vermin?
Hi Everyone,
We are very unhappy with our bank - capital one- and we are searching for another bank for our business account. If you are located in brooklyn and you are happy with your bank please pass along the name so i can look into it.
Thanks in advance for your help!
Rene
Our co-op is interviewing candidates to replace our tax certiorari attorney. Any suggestions on what key questions we should be asking aside from getting a list of their clients
If a special shareholder's meeting is being called for the purpose of voting to terminate a shareholder's tenancy, as happened in the Pullman case, does the shareholder that the Corp wants to oust get to vote? In other words, is the 75% majority needed to succeed in terminating their lease comprised of 100% of shares excluding the shareholder in question? In the 2006 Lapidus case, an article in NY Times states 98% of shareholders voted in favor of terminating Lapidus' lease--this percentage in favor seems impossible if shareholder Lapidus was allowed to vote. Hence my question of who is allowed to vote at the special meeting.
looking for a good boiler installation contractor to replace an oil fired (#2) boiler in a 24 unit co-op in Chelsea. Also does anyone know how long it takes to get the various permits from the city for removal and installation
Can anyone refer a name or phone number of roof antenna companies who would be interested in installing antennas on my co-op's roof?
I posted this below and decided to repost it under a seperate heading to generate more reading and hopefully assist more people...
Budgeting for Economic Stability
I have not been on in a while and it is good to see some old/familiar people…
In light of some post that I am reading and recent conditions, I decided to post the following to assist some Boards with creating (modifying) their 09 budget
It is important for management when creating the budget to consider the posterity of the building.
Budgeting as most US households today, and as our government does by pushing financial responsibility into the future is irresponsible. We do not and should not EVER borrow to pay bills in our personal or business lives. (I have 2 buildings going debt/mortgage free this year!)
When creating a budget, all anticipated annual expenses are taken into account, based on the current years spending, announced water/utility increases, Taxes (future taxes can be obtained from the DOF website), regular expenses, anticipated salaries, and other expected expenses.
Additionally, the condition of the building and anticipated physical maintenance costs are important to factor in; most people become modest here, but do not be. It is a good idea to obtain an engineer’s condition report and a five year capital plan from a good engineer to assist in pinpointing this number. Forget the fact that fuel dropped, leave the number alone!
Once you have a solid list and sum of anticipated expenses, then calculate what your required income (maintenance) should be per share and add 5-7%. This should be your new maintenance
Hope this helps someone...
~AR
There is a posting herein where the individual asserts raising maintenance is being “lazy”.
May I suggest that in a well run building, whether self managed or managed via a property management company, husbanding funds should be a way of life, de rigueur.
Thus, in a well run building, there are increases every year in maintenance fees (and perhaps assessments) to account for salary increases, utility increases, tax increases, insurance might be a bit variable and could even decrease if one is willing to front more of the deductible, preventative maintenance increases as the building ages.
To avoid increases is perhaps to invite insolvency.
To delay capital expenditures is perhaps flirting with disaster or at a minimum poor services to the residents, e.g.: lack of hot water, heat, leaky roof, etc.
To refinance is to condemn future owners to payments for improvements enjoyed by current residents. Not really fair when you look at it that way.
Remember, corporations borrow to create new or improved products and thus generate more revenue and produce more profits.
By borrowing, what new or improved products are generated that benefit the building / property? None!!
So why borrow? Why refinance?
Why pay interest expense that is of no value to the corporation (e.g.: building and owners)?
Think about it please.
Could anyone suggest a good roofing contractor for our Co-Op's brownstone roof?
Thanks,
David
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I switched over once, to something I believe called ITC, just for my own apartment. The monthly bill went significantly up. Why? Because (and I don't remember the exact name and don't have a bill right in front of me) "transport charge" or "delivery charge" that Con Ed charges itself is lower than what it charges ESCOs.
So even though the rate per kilowatt hour was lower with the ESCO, the overall bill was higher.
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