We want to make some changes to our Proprietary Lease and wonder if we need to call a special Shareholder's Meeting to vote on these issues or if we can send out letters with ballots to each shareholder. We know we need a 66 2/3 percent of the vote to make these changes and are pretty sure we'll get them. Any advice as to proper procedure for having this vote as we want to make this airtight and legal. We want to insitute a flip tax, impose escalating late fees on arrears and maintnece, and change from cumulative voting to one unit=one vote. Thanks,
Do any of you have any experience with condo or co-op buildings installing a metering system for heat for each apartment that , just like with electricity, has residents pay according to their usage. Our building, like many others, is predicting a huge jump in energy costs, especially heating. This would be one way for us to cut down our costs, and have a fair system for allocating costs.
We have a Board member who has, in emails to other Board members, accused a shareholder of disorderly conduct and intoxication in the past. She cited instances of this behavior, I believe, to justify her questioning guests of the particular shareholder. Is it ever appropriate for a Board member to email sensitive information about a shareholder? (I also do not know how accurate her accusations are.) Are we risking legal liability by allowing her to do this? Another issue is whether Board members should question visitors when we have security guards. Thanks for any guidance.
I serve on a board of seven. Currently we have one member (who is also our treasurer) that just sold his unit.
Another member is in contract to sell.
Is it legal and/or ethical for either of these members to remain on the board? If so, at what point should they remove themselves?
Is it a conflict of interest, especially in the case of the treasurer, for them to be making crucial financial decisions for a corporation in which they are soon to have no vested interest or be accountable for their actions?
hi everyone...i am in a 52 unit (coop) building in brooklyn near the botantical gardens. We are looking to hire a new super asap. Can anyone give advice as to how to find a new super beyond asking the management company? Also through my research i know about http://www.nysupersclub.org/
which seems focused on manhattan.
Any advice is appreciated and thanks in advance!!!
We are also intrested in an answer to below question about Tax abatement... Any takers?
Over the past 3-4 years, S/H who bought apartments in our building, were not getting credit for their cooperative rebate from NYC This problem seems to have began when we hired a new MangCompany three years ago. (Who, as of July no longer works for us)
The complaints or questions from S/H to the Management agent, – has only reached the board, due to the fact that a BM bought his apartment during this time and was charged... (We have a 30/70 allocation. 30% going to the SH, and 70% to the buildings reserve fund. This is to cover assessments etc…)
Last year (and this year, until the Board became involved) the Mang company replied to SH that they were looking into it. When the Board notified ALL the S/H of the problem the feedback began trickling in. Some S/H did not realize that they were due a rebate
QUESTION: Who is responsible for filing the new SH info with the city? The Buyer (through his/her attorney], the Management Co., the Coop’s attorney??
-The Management first claimed that it was the SH lawyers fault. That the Coops attorney, the seller or someone else. Is responsible for recording the shares.
-The Management Co now claims that the NYC records are (years?) 'behind' and that some SH are not recorded in the NYC books OR they have not paid [what?] taxes on their property and therefore are not recognized/eligible for the refund.
-However, if taxes were owed by new S/H's from the date of purchase, it seems inconceivable that they would not be 'chased' by NYC for collection of unpaid taxes.
The Management Co. says that they are investigating with the City/State But the MangCo is not able to produce a roll of the SH who have been unduly assessed. (One of the many reasons they were fired, was their inability to keep the most basic records – such as a SH list)
This investigation began after the Board learned of this situation this year, and the complaints became more vocal, We are not trying to Blame the MangCo, but are having trouble getting a straight answer. It would seem that this would be something a MangCo would know about, and when it came to their attention last year, they should have notified the board – or advised the SH to register with the City..
Any info appriciated... Thanks...VP
I am a newly elected board member that is having real hard time dealing with the old members in place resisting new ideas etc since everybody in it is motivated by their personal agendas and the president is extremely autocrat. I do have the support of the majority of unit owners but I feel trapped most of the time because I am not supposed to say anything about or against the board. My question is, how much can I tell of what's going on to the unit owners and not be legally liable and the second and most important--do we need the sponsor's vote in order to remove one board member which in this case is the president? According to our by laws, we simply need majority (66%). The sponsor is holding 2 seats out of 7, one for owning the commercial spaces in the building and another for owning 24% of the apartments. When the by-laws says "simply majority" does it mean just the rest of the owners? since we can not interfere with sponsor's seat, I thought they cannot with ours but that is not specified in the by-laws. Or does it include the sponsor's vote?
Anyone have experience with an apt sold at public auction because the Sh defaulted with his mortg bank? The coop got a letter from a man who says he bought the apt at auction and he wants to close on it asap. The Sh hasn't received notice from anyone, including his bank, that his apt was sold, or what happens next. He needs a lawyer but can't afford one. He called the city, legal aid, etc. but they said they can't help him.
Does the coop have any rights to approve this buyer, like it would a regular buyer? What, if any, is the coop's involvement in this?
Also, anyone know a lawyer who might be able to help the Sh?
Introduce yourself to other members of Board Talk! Log in below or register here.
Board Talk members who registered prior to March 9th, 2016 will need to reset their password.
Habitat U: learn about how to manage a building, and what you should know as a co-op or condo board member.
Search, by word or phrase, all magazine articles from January 2002 to present. You may print or email your results. Print subscribers receive free access to the Habitat Article Archive.