I serve as President of our board, while juggling a career and a family. I have learned a lot and have at times, been seriously burned out.
I encourage others to get involved, but no one is coming forward, so I feel a strong need to remain. They do however, like to second guess decisions made.
I would like to retire from board service to become a normal resident at some point, but I do not see anyone willing to step up and do what needs to be done.
I assume many of you are in similar positions and was curious to know if any have solved a similar problem.
Does a Board of Directors have the right to force everyone in the building to sign up for cable by not upgrading the roof's master antenna for the change in February?
We have a problem with heavy smokers and cig smoke is drifting up into other apartments.
Other than sending a notice to the smoker from the MangCo, is there any other way to handle this problem.
This is a sticky issue, but is there a legal way to restrict smoking or require smokers to be responsible and put in AirPurifiers?
Thanks for any advice or info,,, HG
If a shareholder is in default and has been put on notice, are they allowed to attend a special shareholder meeting called for the purpopses of voting on amendments to prop lease? What about if they have been evicted and are in the process of appealling it? Seems they should not have voting rights if they are already in default of prop lease or being terminated. Our prop lease doesn't address this.
I live in a 120-unit coop that has been operating at a loss for 5 years now. Our maintenance income does not meet our operating expenses, and our reserve fund amounts to far less than $100K. I'm obviously distressed about these conditions, as are many other shareholders, but our Board president maintains this is all "normal" for a NYC coop and thinks a line of credit will always be there when we need it. I disagree with his assertion, but what do others think? Is this normal? If not, have others dealt with this kind of resistance to improving coop financials?
our super currently calls overseas and the coop pays for it. the prior super was not allowed top do this. he got local and national calls but no overseas.calls. it is wrong to allow payment for overseas calls , right?
hi everyone,
the coop i am in is currently selling an apt. a shareholder has contacted the board looking to exchange their apt for the one for sale. I am not sure of the difference in value but the shareholder seeking the other apt said she wants to do this with minimum paperwork due to her immigration status and if there is any difference in value (which there probably is) that we could negotiate how she would make up any difference. the apt is also being shown by a realtor. my question is...does anyone know if you can exchange apts by simply exchanging the shares on the apts? my gut says the shareholder would have to sell her apt and then purchase the other apt just like any other person interested in the apt...any thoughts? also this person is a former board member.
thanks in advance for your responses.
r
With oil prices dropping, members of our board are pushing agressively for locking in a price for the upcoming calendar year, while others are vehemently against it.
What are the thoughts of those on Board Talk as to the pros and cons of such an action on a budget, as I am undecided.
Can anyone recommend a decent free/cheap web hosting company for a coop website? Does anyone have a coop website? Any major issues to watch out for in creating one?
Any advice/help welcome!
Thanks
Good morning. I am a contributing editor at Habitat magazine working on a story on whether and how some co-op boards are revamping their sublet policies, given the current financial crisis. Have shareholders approached board members hoping to sublet to earn extra income or to tide them over while they wait for their units to sell? Please contact me at the email above, with the best number and time to call you. Hope to hear from you.
Thank you.
Ruth
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It's hard for a long-time board president to feel at ease about retiring, especially one who did most of the work. Many board members are capable, offer ideas, etc., but they are content to let the president coordinate and do everything. Designate more work or ask them to volunteer for a task - overseeing a project, writing a memo to residents, etc. Make use of their skills and talents. Let them know you won't be on the board much longer and give the dedicated ones a chance to step up to the plate.
Some presidents don't want to disclose that they'll be retiring. This often happens if there's a fear of SHs with personal agendas taking over or where no one seems interested in being on the board. Another way to start making a transition is to talk to SHs you think would be good board members. Encourage them to run. Tell SHs who are CPAs or other professionals how valuable their service on the board could be for the coop.
Also look for prospects who are "people" persons, no matter what work they do. It's good to have board members who can deal well with SHs. Some people are good with numbers, coming up with new ideas or formulating strategies for the future but they may not be good communicators. The board as a whole should communicate, keep SHs informed, etc, and having one or more board members who can do this on a one-to-one basis with SHs in an open, receptive manner is always a plus.
I've retired from several boards after a long term of service. I've sought out good replacements before I retired. Sometimes they're not easy to find but it's worth the effort. None of us want to put a lot of ourselves into something and worry about how it will be handled in future especially if we still have a big investment in it.
To Cathy who asked about retiring from her board: no one is indispensable and your coop will go on without you. But it can be hard to let go. One last suggestion. Before you retire, try to ensure some "continuity" for your board. In time people learn, but it's a big mistake to turn over governance to a team consisting only of SHs who don't really understand what a coop is yet, have been in a building for only a very short time and/or have no one with experience to help them learn and move in the right directions.
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