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I should have included this in my previous email but if you outsourced your security function I would like to hear your experiences: good, bad or indifferent.
what has been your experience with unionized (32BJ) security in your building? Pros & cons appreciated as an important decision has to be made.
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
Please send me your advice, I live in a building where the sponsor was also the managing agent, secretary, accountant, and lawyer for the building. The previous board managed to change the managing agent, lawyer, and put a new independent accountant in. The sponsor got his "friends" to run against the board and since he still has 12 apts, they voted the old board out. Now the new board is composed of his friends, who he promised apartment to, and people that do not live here. Nothing has been updated in 25 years.
and its feared that every outsider that was hired will be fired and the building will revert to the "old ways" Please give me some advice and moving is not really an option as I dont know who would buy into this building
thanks
How many corporations pay their Supt for common tasks such as unclogging bathtubs? Our Supt wants to charge us but some Board members feel that this should be included in his job description.
I'm curious to know what arrangements others have with their Supt.
just smelling something funny in our cop. is there a way that a managing agent can profit from encouraging a coop to do one large project after another?
Seems like all sorts of loopholes in new noise code. We finally got a noise violation issued to a restaurant whose HVAC has been the bane of our rear line shareholders. Problem is the offender gets 6-8 weeks before he has to appear in court and he is making no signs of curing the situation anytime soon. The managing agent for that building doesn't care, and we are going nuts as the HVAC is detreriotating daily giving off more loud grinding racket 15 hours a day, 7 days a week. Borough Presidnet's office said nothing else they can do. We are considering sending a lawyer's letter to the managing agent threatening a law suit. Has anyone had to resort to this? IS ther legal remedy available (or threat of) that can bring about a faster and better result than the sad DEP process? Even with our windows shut it sounds like we're underneath an idling bus. And, btw, the noise code is very misleading-this guy had a 57 dcibel reading and the ambient level was 52-so the DEP brochure saying the lower thresehold for a violation is 45 is not really true. There are all sorts of contingencies.
Does anyone know anything about the above law that refers to DRIE for disabled shareholders and how can you find out if the mortgage now or past was protected under the above housing law which would make disabled tenants/shareholders qualified for the above exception.
We are a mid sized Manhattan coop. We need to make some changes to cut security costs. Up to now our security has always been inhouse. One option is to outsource to a security company.
Interested to hear from other building who have faced the problem, how did you handle it, which security companies did you evaluate, what is the caliber of security personnel sent to your building.
Any info helpful.
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You say "tax abatement," then "coop rebate;" they're very different animals.
The property tax rebate is a periodic refund of a few $100 per condo or co-op. [With current NYC fiscal conditions, we probably won't see this again soon.]
The more serious tax abatement is a reduction generally ranging from 17.5% to 25% of each owner's total property tax bill; this is an effort to equalize apartment taxes with single family residence taxes, & recurs each year.
Most of what you need to know is explained here: http://www.nyc.gov/html/dof/html/property/property_tax_reduc_coop_condo.shtml
Don't miss the "owner's guide" link at the bottom of the page.
Basically, the Board applies. If the agent files, it's in the Board's name. Have a Board officer send a letter to the Finance Dept. requesting copies of the full application for all the years in question. You'll find out quickly where you stand, & can make necessary corrections.
Finance will, when shown appropriate documentation, make corrections for errors made in past years & issue credits to owners or their banks [without interest, of course]. If errors were made by your agent, they'll be apparent, & the agent should be on the hook for owners' lost interest.
The claim that "NYC records are years behind" is bogus. Why you don't want to hold the agent accountable--if the error was theirs--is a mystery.
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