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Resident Shareholders Unite meeting - rsu Dec 09, 2008


There will be a meeting of RSU on Wednesday, December 10th at 6:30 p.m. This meeting will focus on filing complaints with the Attorney General's office; two attorneys will lead the meeting.

If your co-op is still controlled by the sponsor, this meeting is for you.

For more details, see the RSU blog www.rsunyc.wordpress.com:

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Husband & Wife on Board - nasl Dec 08, 2008


We are a condominium, not a co-op. At the last annual meeting there were 5 seats up for election. It has now come to the homeowners attention that 2 of the newly elected board members are husband and wife and live together in the same unit. The board always worked on the premise that only 1 person per unit/deed can sit on the board. Does anyone know the legality of this. Any advice would be appreciated.

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You should consult your by-laws and association papers to find out how many representatives from one unit may run. It may be that both representatives on the deed may run, but only one representative is allowed at the time as you understand it. Otherwise, a consultation to an attorney may be the most neutral way to resolve the problem without creating ill feelings on individuals and documentating once and for all similar situations in the future.

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You should consult your by-laws and association papers to find out how many representatives from one unit may run. It may be that both representatives on the deed may run, but only one representative is allowed at the time as you understand it. A consultation with an attorney may be the most neutral way to resolve the problem without creating ill feelings on individuals and documentating once and for all similar situations in the future.

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Union organizing - Anonymous Dec 08, 2008


We have a non-union co-op right now. Are 'resident managers' NOT eligible for seiu given their title? It is confusing as this person is also referred to as the building super and does the same work as a super. I went to the seiu website as well as the local chapter and did not find a listing of which employees are eligible. If a building becomes unionized could the 'resident manager' stay (at the non-union salary we are paying), and would we have to hire unionized porters? I also need a website or source for information in understanding union issues. thx

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Try contacting the Union directly at 212-388-3800 ask for the contract department.

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First, I would not call the union for clarification. The union will recruit all your employees, i.e., supers, porters, etc.

If the resident manager is a glamorized superintendent, who cares about the title, the resident manager is also recruited.

The best bet is to speak with the co-op counsel; he/she may refer the question to a colleage dealing in labor law and obtain clarification. Optionally, he/she may refer you to a labor attorney to handle the matter if the union is getting too close to your employees and you wish to fight the union.

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First, I would not call the union for clarification. The union will recruit all your employees, i.e., supers, porters, etc.

If the resident manager is a glamorized superintendent, who cares about the title, the resident manager is also recruited.

The best bet is to speak with the co-op counsel; he/she may refer the question to a colleage dealing in labor law and obtain clarification. Optionally, he/she may refer you to a labor attorney to handle the matter if the union is getting too close to your employees and you wish to resist the union.

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Yes, we resident managers are union.

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Maintenace Increase 2009 - Cathye R Dec 08, 2008


I would like to poll those on their boards to ask what your increases in maintenance will be this year, if any, and why.

On our board we are about to vote on a 10% increase due, primarily to our properties real estate taxes in 2009.

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hi - do you have a tax ceriotori (sp?) lawyer working to keep down your taxes?
Can you let me know the answer by posting. Thanks

Also have checked your water bill? we got 20k back for over-billing. If you take good , effective measures - you can reduce your increase to 7%

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Hi, Cathye,

Our maintenance is going up slightly (about 4%) because the city council is increasing property taxes 7%, electricity will be going up as much as 10%, and with few apartment sales we are earning only a tiny bit from flip taxes. On top of that, inflation in 2008 is at about 3.5%.

One of any board's salient responsibilities is to keep the business running in the black. That way your investment remains valuable (for a different way of running a business, Google "Lehman Brothers" or "AIG").

Investors look for sound businesses when they want to invest money and get a decent return. That holds true whether they're investing in Citibank (a bad decision) or a co-op (a good decision, at least in the case of the one I live in).

Remember, a co-op is like any other business: it buys goods (utilities, fuel, paint), hires employees (super, property manager, accountant), and faces uncertainty (will the city council raise taxes again?). All of those costs change with inflation. And by "change" I mean "increase."

Any corporation, whether it's a car maker or a co-op, that doesn't budget wisely for increased costs is bound to fail. (If you're not convinced, Google "GM.") A co-op that doesn't raise maintenance fees to match its costs either has a tremendous sum in reserves and lives off the interest (think: Park Avenue) or needs a new board, one that isn't afraid to face reality even when shareholders are.

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Board qualifications - HG Dec 08, 2008


All suggestions and experiences appreciated:

At this time we have no qualifications in our Bylaws for Board members – except that they must be owners.

Last year a Shareholder ran for the Board who is involved in a very heated law-suit with the building. Most SH found it disturbing that he was allowed to run. He was not elected -- but he did come to the meeting with a lot of proxies. And we were concerned.

We want to insert an new amendment into our Bylaws – as to qualifications of Board members – prohibiting SH involved in any legal dispute with the Coop or in errors – to run for the Board.

Also, if a Board member becomes involved in a legal dispute with the building while on the board – that he/she resign.

In the past we had a BM involved in a legal dispute on the board, and this owner benefited from being on the Board—discussing the case with the Coop lawyer, Mang Company and friendly board members.

Thank you…HG

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HG - If you want to amend your by-laws to say that board candidates can't be in legal disputes with the coop and a BM must resign if he is in such a dispute, talk to your coop attorney. You have to notify all SHs of the exact wording of the amendment before it is voted on, get the required SH vote, etc.

You said you had a BM in a legal dispute with the coop who benefited from talking to mgmt and other BMs about it. Mgmt and other BMs should stay out of discussions like that, and a BM shouldn't "discuss" his legal dispute with the coop attorney. His attorney can, but the coop attorney represents the coop as a whole. He shouldn't "discuss" or give advice to any individual SHs who are in a legal dispute/lawsuit with the coop. It's not appropriate, and it's not in the best interests of the coop as a whole.

As for qualifications of BMs, I know bldgs who amended their by-laws to state that a person must be a SH for 1 year (one bldg requires 2 years) before he can run for the board. Not a bad idea. It gives people who never lived in a coop time to familiarize themselves with the coop "concept" and get to know their bldg a bit before they attempt to be one of the people who govern it.

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tips and building staff - Anonymous Dec 05, 2008


theoretically, cash tips over $20 in any given month are supposed to be reported to the IRS. the employer is responsible and can be fined if caught not reporting and so can the staff member. what is a coop to do to be REALLY proper. Should they ask residents to tell them the amount they tip and then the coop can report it to the IRS? This seems to protect the coop.

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Leave this alone...Why are you going there?

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I know i know. but am going there for good reason. corrupt super. sleeping board. inequal repairs and favors for residents depending on $. need to balance it out.

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During my 30 years of coop management I NEVER had a client report cash tips. If the building really wants to pi-- off the staff this is the best way to do it. Tips is what motivates them as much as their salary, if not more.

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People like you make it hard to keep good employees in any building.

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sal - this was your 12/5 posting:
"I know i know. but am going there for good reason. corrupt super. sleeping board. inequal repairs and favors for residents depending on $. need to balance it out."

I wouldn't worry about reporting cash tips. If I were you, I'd focus on finding a new super, waking up your board (or getting other people elected to it), and having your property mgr handle and schedule repairs for residents on a fair, equal basis. And that's the best "tip" I can give you. ;-)

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they are not good employees. this is the problem. pleaseunderstand.

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I'm a resident manager, if the employees are not any good or dont follow company procedure then you need to make a change. This will give your building a bad reputation were no credible worker will want to work for your building.

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Negative operating funds - rs Dec 04, 2008


Our condo has negative operating funds and almost no reserves and our mothly charges will be going up. aren't we in a terrible financial situation to be so on the edge? The Board seems tobe in dneial or glossing over this

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Run for office and find out before it is too late.

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Tax Certiorari Attorney - jbm Dec 03, 2008


Can anyone recommended a good Tax Certiorari Attorney who has been successful with the city in reducing assessments. We have a 24 unit co-op in Chelsea

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I always found Sonnenschein, Sherman, and Deutch, 888 Seventh Ave, to be very competent.

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maintenance increases in 09 - newbie board dire Dec 03, 2008


We are raising our maintenance in 09 by 5%. I'd like to know what others are doing.

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We just announced a 12% increase, so consider yourself lucky.

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fuel is the same, labor did not go up. having raised ours considerably in the last few years, there is no reason to raise your mntnce if you are taking PRO_ACTIVE cost-cutting measures - supplies, insurance, energy costs, etc.

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Newbie - We are raising our maintenance 5% in 2009 too. NYC real estate taxes are going up (7%, I believe), and who knows what will happen in 2009 in this economy. IMO, unless your co-op is very well fixed financially, a maintenance increase is a good move.

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Yea! You are lucky we have 10% !!

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you need a very good Tax Certiorari ASAP/. get a new one if your regular one is not doing as well as he could be.

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9% to cover property taxes.

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$ to Fix the Heat Problems - Sam Kulovitz Nov 20, 2008


NYSERDA's been giving out large sums in cash incentives and subsidized loans (even in THIS day and age!) for co-ops and condo or rental apartment buildings in the Con Ed territory. You should look into it more or email me for more information.

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Green@metrogroupny.com

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