As a brand new board member, just elected, I have a question.
I have been inquiring about the process to refinance our buildings existing mortgage.
I have been told that our management company can orchestrate this on our boards behalf, which we would like, but they will charge us a fee to do so.
What should we expect to be the charges for this service? Is this typical?
Has anyone encountered a hurdle that the co-op is declining to allow access to the shareholder lists, citing privacy requirements imposed by the Patriot Act?
Has anyone been faced with a partial or complete prohibition? For example, partial only names are shown, only last names shown, displayed without address (some residents have an alternate address or an alternate primary residence), phone, SS#,
Does the Patriot Act trump the proprietary lease?
Tried to post this back when the board was down. Yay, it's back up.
We put in a new elevator about a year ago. Our managing agent didn't file a J51 doesn't know if we'd be eligible or not for it. Based on some web-reading, it looks like, for Manhattan, if the units are valued over $40k, the building may not be eligible. Is that correct? Has anyone succeeded, in Manhattan, in getting a J51 abatement? Does your managing agent handle it or do you need a special lawyer to file? Thanks for info or suggestions on how we should follow up.
our Super has started making private arangments with the sponsor to renovate/ hire subcontractors to work on the sponsor apts when they open up for rental. These jobs do not seem to have permits and the contractor may be unlicensed to do electrical, plumbing etc. What can we do and why is allowing this to happen not in the best interests of a cooperative?
As more of the population of our building moves into their senior years, more and more of the residents are now single person occupants. A good number have begun to acquire one or another model of remote medical alert service to secure assistance.
All these remote medical alert services expect to contact an individual to then gain access to the resident’s apartment and for any family or guardian contact.
We have found that residents are supplying the telephone number of our security console or our doorman.
We are about to publish a letter to all residents advising that the selected medical alert service needs to be provided with the names and phone numbers of fellow residents, family members or friends proximate to the building. Alternatively, residents can purchase a key lock box, typically used for home sales to allow only authorized individuals with the key box code to gain access to the unit’s keys.
Basically, we wish to rebuff underwriting either explicitly or implicitly any co-op responsibility for a resident, access to the resident’s apartment or the notification to responsible parties for the resident.
As we are not a nursing home or an assisted living facility, our assertion is that we cannot accept this burden for a resident’s well being.
Doormen and security staff do not have access to the keys to a resident’s apartment. In turn, either the management office during the day our superintendents off hours must access the key locker. At this time, the rules for security and the doormen is that the superintendents are only to be contacted for a fire, flood or if the central heating or cooling system goes into an alarm state. As one can discern, these are rare occurrences.
This is not a quality of life issue, as all residents share in the good care and maintenance of the building and property. To us, it is an additional service fraught with a potential liability for failure to act in a timely or proper manner.
Are there supporting or counter views?
Despite or because of Twin Rivers (Hightstown, NJ) can you folks provide some views or opinions? Yes, quite a few questions but one or more may perk your interest and some responses
1. Does your co-op or condo publish any letters promoting candidates for election to the co-op board of directors?
2. Does your co-op or condo allow residents and shareholders to distribute materials, election or otherwise, beneath apartment doors?
3. Does your co-op or condo allow candidates for board of directors to distribute materials beneath apartment doors?
4. Does your co-op or condo censure residents and shareholders who distribute materials, election or otherwise, beneath apartment doors?
5. Does your co-op or condo censure candidates for board of directors who distribute materials beneath apartment doors?
6. Has the board ever permitted e.g.: made an exception for, residents to distribute materials beneath apartment doors?
7. Has the board ever permitted, e.g.: made an exception for, candidates to distribute materials beneath apartment doors?
8. Has the board ever permitted residents to distribute any materials in your co-op or condo lobbies or hallways?
9. Has the board ever permitted residents to distribute election materials specifically in your co-op or condo lobbies or hallways?
10. Does your co-op or condo publish a list of candidates for the board of directors who have submitted their names in a timely manner?
11. Does your co-op or condo sponsor candidate sessions for shareholders to meet the candidates
12. Does your co-op or condo permit candidates to make a statement on the floor of the shareholders meeting before the voting is closed, unless voting closes before the shareholders meeting?
13. Does your co-op or condo have an independent tabulator of votes?
14. Does your co-op or condo publish the count of votes for candidates?
15. Does ML prohibit the distribution of materials at your co-op or condo sponsored off premise meetings, if in fact meetings are off premises?
16. Does your co-op or condo allow meetings in the community room for personal use?
17. Does your co-op or condo prohibit door to door solicitations in the building?
18. Does your co-op or condo prohibit any activities in the lobby?
A sublet tenant (Ed) complained to our board about the SH of his apt. We told him the matter is between them but I'd like to know what some of you think.
Ed's sublet expires in May. He wants to renew for one more year. He told the SH he's looking to buy a place but he doesn't know when he'll find one. It could be a few months from now. He told the SH he'll give him 3 months move-out notice. The SH also wants Ed to pay 2 months rent if he leaves during the next year's sublet lease period.
Ed claims the SH has no right to ask for 2 months rent if he moves out early and he doesn't want to pay it. The board didn't tell him this but we don't think it's unfair.
Again, this is between them but I have two questions:
1) Any opinions on the 2 months rent request?
2) If Ed agreed (in writing) to pay 2 months rent if he moves out early then refuses to pay it, could the SH keep his security deposit instead?
Appreciate any feedback. Thanks.
we had an illegal sublet in our coop which eventually ended after several years. . the apt. owner applied for and was granted a legit sublet but there is a rider attached to the agreement which gives 6% to our managing agent, Halstead (also a big broker) , if the apt. is sold to the tenants or anyone else. This does not, somehow, sit right.
Conflict of interest?
We put in a new elevator about a year ago and our managing agent was supposed to file a J51. He didn't and doesn't know if we'd be eligible or not. Based on some web-reading, it looks like, for Manhattan, if the units are valued over $40k, the building would not be eligible. Is that correct? Has anyone succeeded, in Manhattan, in getting a J51 abatement? Does your managing agent handle it or do you need a special lawyer to file? Thanks for info or suggestions!
(Posted earlier when the list serve was down). Happy to see it's back up again. Thanks.
I bought into a cond-op about 4 yrs ago. I always thought the idea of cond-op is a skirt around the 80/20 rule. Now that there have been changes (a loosening) of the 80/20 rule, what's the point of cond-ops? And will the rule change devalue existing cond-ops? We cannot get anymore income because we do not own commercial establishments. What can we do?
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