We have a renter in our condo building whose dogs are not house-trained. This regularly creates a problem of a horrible-smelling hallway for the neighbors, simply because of the unit's door being opened and letting the vapors into the hallway. The dogs do not go on the hallway rug-that is not the problem.
Meanwhile, the renters (trustafarians) couldn't care less. The owner is a foreigner, who is constantly travelling, doesn't really speak English, and virtually impossible to reach. The owner's contact person in NYC, also foreign, doesn't want to get involved- other than collecting the rent.
What, if anything, could be done to remedy this situation where the tenants and owner could care less?
We are a new bdlg (4 yrs old) and have shareholders who have requested the board make a decision re: Garbage grinders
we would like to know if your coop / condo allows such installation and what is your bldg experience (if you allows them).
Our managing agent has concerns about plumbing issues, and provided examples about coops in Qns where the bldg has to hire a plumber once a year to "clean" the pipes form the food residual that "sticks" to the pipes.
Thanks in advance for sharing your experience / opinion
Is it common practice to provide the Supt w/ a cellphone or pay for a portion of his bill since many calls are work related?
The sponsor of the building that I am in has sold quite a few units in the past year so more and more sh seem to be calling the supt's cellphone.
Currently our building allows maximum financing of 80% for shareholder loans. In light of incredible valuation increases for apartments in our midtown Manhattan building there has been some talk about reducing the maximum financing allowed to a level of 70%.
What do your buildings require....and is this a valid concern?
A Sh in my coop (lives in NYC) used to sublet her apt but the last tenant left in 1995 and the apt's been vacant ever since. I know her and we talk a few times a year. She's a nice woman and she's asked me many times how the market is and if she should sell or sublet. I give her my opinion and say anything's better than paying maintenance on an empty apt - sell and get a nice chunk of money, or sublet, offset her maintenance and get some income. (She has no mortgage.)
She always says she has a demanding job, an elderly parent lives with her, a lot going on, can't deal with this apt until things settle down. Things never settle down. There's always something we have to deal with. Our prop mgr sends her a cordial letter every 1-2 years to ask what her plans are for the apt, and she always says she isn't sure yet.
Besides the fact that she's losing money, we could have a Sh in there who'd potentially be a coop asset (or at least a sublet tenant) instead of an apt that's been empty for 12 years. Shs in adjoining apts offered her a good price to buy it but she said their prices weren't high enough. I think she was just putting them off. She can't seem to put her attention on this and make any decision.
Our bldg is nice and we're in a great midtown location. She wouldn't have any trouble finding someone for her apt. We can't force her to occupy, sell or rent it. Any ideas on how we can convince her to do something with it?
Just a theoretical question: What would a Board/building do if an investor was unable to either sell/rent out his unit and then stopped paying his monthly charges? If the Board was later also unable to sell, what could be the outcome? Has this ever happened in any of your buildings?
I know the super and his immediate family (spouse and children) are allowed to live in his apartment paid for by us shareholders. But is anyone else allowed to live in his apartment, parents, siblings, cousins, etc? Does the super need to ask the board for permission to do this?
I don't have proof yet but our super might be allowing his brother to live with him.
Don't know what to do now.
I have just been recruited to serve on my board and have found out something about our income streams.
It appears that because of the IRS 80-20 rule our cooperative actually has to forego income, sometimes in excess of 20,000 dollars a year, that we could otherwise collect from two store we rent space to.
Actually collecting this income would have significant consequences in loss of shareholders ability to deduct real estate taxes and morgage interest from income taxes as well as the treatment of sales proceeds for those who sell.
I have also been told this maybe more common than I would like to think.
Therefore, how many of your buildings face the same situation? How many of you also actually have to leave monies uncollected?
It seems the stores we rent to benefit in lower rents at the expense of the cooperative and all its shareholders.
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