Looking to purchase a new intercom system for our building. Needs to work via cell phone as we do not have hard wiring to all apartments (and do not wish to install any). Also, our residents have expressed privacy concerns about some of the features the latest "high tech" video intercom systems have with storing visitor photos, etc. So we are looking for something low/medium tech but reliable, as in an established company with a proven track record. Video is not required. Any advice is appreciated.
Can an individual shareholder deduct capital improvement costs from their federal taxes when they sell? This is not a building-wide capital improvement but done by the shareholder in her apartment. Our co-op does not give credit for this when determining profit.> Join the conversation
After the buyer passed the interview, as a seller, I was required to have an "exit inspection." The super flagged two things that had previously been approved in a post renovation inspection. One "violation" would require me to remove a middle kitchen cabinet because the fuse box is fully accessible but is behind a cabinet door. The other violation stated I was missing an emergency shut. After hiring a plumber, I discovered it was already there. After demonstrating that no other building on my street requires these inspections, 3 supers of other buildings said the cabinet "violation" was "stupid," the renovations had been approved, and that the "fix" would deem the apartment unsellable, I was given the option of informing the buyers that the cabinets were a code violation and they would need to assume the risks or the managing agent would not sign off on the sale. The buyers walked.
Although the information for sellers states the inspection is required, it says nothing about what is done with the information and how the results can stop a sale. Additionally, other information my managing agent provides related to apartment sales includes a page with IMPORTANT on top of the page and informs the buyers of the inspection. It then advises them to ask for a copy because they will assume responsibility for any violations that remain unfixed.
So even though it was the buyer's responsibility to inquire about the inspection, I was told by the board's lawyer that I had to provide the information, unasked. I have already bought a new home and moved. Can I hold the board and managing agent responsible for not following their own rules and costing me my sale? I will now need to relist the apartment (at a time when fewer people are shopping), stage the apartment (since it's vacant), and continue paying maintenance fees until it sells.
Do most coops allow residents to bring in outside personal trainers to the coop's gym? If so, what does the coop do to address the risk? My understanding is that the coop insurance wont cover injuries caused by any non-resident, including an outside personal trainer. Do you insist that the trainer have a large insurance policy, naming the building, etc., as an insured (similar to a moving company/contractor)? How do you ensure that the trainer maintains the required insurance?> Join the conversation
If DOB issues violations shutting down the gas supply to laundry room gas dryers, which may
possibly be due to the laundry vendor not complying with City gas installation regulations, can the vendor be vulnerable to civil action to compensate the Coop? The laundry Agreement may be boilerplate.
Why do shareholders who get STAR checks directly from NYS (this was implemented a few years ago) get a higher co-op abatement from NYC than those who do not get their STAR checks from NYS. Both types of shareholders have the same size apartments, number of shares and maintenance. Thank you.> Join the conversation Comments (3)
I informed my managing agent that my coop is my primary residence. However, I never received my rebate for the monthly nyc coop condo assessment.
Managing Agent recently responded I did not return a notarized statement they sent to me a few years ago stating the property was my primary residence, so they did not inform NYC Dept of Finance.
Before they finally informed me of that, I had phone conversations and emails asking why I hadn’t received the rebate, where they never told me about the need for the notarized form. So, I missed out on two years of rebates.
All current communication with the Board and Managing Agent is ignored.
I’m considering small claims court. Any other advice or thoughts would be appreciated.
Yonkers NY =coop rebuild time =over 2.5 years
Allstate insurance normal coop policy = 1 year relocation max= everybody in the fire building with allstate had this clause
state farm= 1 guy had a 2 year relocation max=
one other family had a cash umbrella limit= probably the best if you review it yearly
remember you have to pay your mortgage while you are unable to use your apartment and paying rent in your temporary 3 year abode.
i always knew about replacement value insurance and carried it, i learned via a friends misfortune with his house fire.
the insurance brokers always tell you , you will be back in in a year, This is untrue in yonkers and probably many areas of NYC.
My journey through this is almost done,
Fire Hydrant are not suppose to freeze not in canada, not in yonkers = Improper maintenance or installation causes this
I wrote to our board quoting the bylaws that allow me to take a portion of the hallway near my door that no one else can ever use in anyway. The board responded that I can buy it for the same price per Sq ft as apartments in the coop.
Then my next statement showed a charge of $300. When I inquired I was told it was legal fees for researching my question. Can they do that without notifying me that research is necessary and that it will cost me?
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