The co-op board of the building I own in has recently decided to determine how much compensation a shareholder is entitled to..In past years the shareholder negotiated the fee for the use of their unit and the co-op negotiated for their fee.
Now the co-op has put a cap on the dollar amount a shareholder will be compensated. Is this legal???
Our building has a covered garage with approx. 35 spots (149 units in the building) and an approximate 10 year waitlist to get a spot. The garage fee was $80/month until 2019 when it was raised to $100; and then this year the Board (4-3 split) decided to raise the fee to $125/month. Garage spot shareholders are complaining that this increase is unfair and meant to try and kick out elderly shareholders. The Board reasoned that the increase was because the current fee is much less than market rate (approx. $250+ in our neighborhood) so rather than increasing maintenance by 3% to cover the budget deficit, we raised the maintenance by 1% and increased the garage to bring it to $125. How have other Boards dealt with pushback about raising garage fees? My logic is that the shareholders are not entitled to a garage spot and Coop as a whole is a business and it makes business sense to raise the garage fees to be closer to market rate so that the building as a whole benefits financially. Anyone have any tips for how to deal with annoyed garage renters?> Join the conversation Comments (2)
Curious what other issues boards have run into with demanding shareholders harassing board members? Have a situation with a shareholder making brazenly false complaints into 311, threatening lawsuits over completely unsubstantiated claims, etc. I realize there is likely some degree of mental illness at play here.
What are your stories and how were the situations dealt with?
My pre-war building potentially needs the roof replaced. We are thinking about pairing the roof replacement with the introduction of solar panels. We need to find some specialist engineers who could guide us through the cost benefits and feasibility of this plan. Presently we have wood joists under the roof. Does anyone have a referral base of specialists in these areas? Any guidance at all is appreciated.
thanks very much!
Coop with no sublet restrictions, in univ. neighborhood. I sublet out. Shareholder below me, on board, has water damage in bathroom ceiling. Accused me of poor maintenance, board agreed without inspecting. I sealed floor, problem continued. Finally board hired plumbing co. - they found valve leak behind wall, bldg's responsibility. This disproved board president's expectation. Same day president directed super to pour 'pitchers of dye water' along floor edge. Took pictures of dye on ceiling below to show floor is problem. Then claimed plumbing co. did dye test. I contacted plumbing co. they asserted absolutely not. This isn't how such tests are done, by code. They found leak in valve only. President didn't deny, in writing, but claimed mgt co. instructed her. Mgt. co. denied this.
I hired professional bldg. inspector to assess floor, he declared it sound, above average. Forwarded to board. No response. Board has blocked my current attempt to sublet for over 30 day period permitted by policy, ostensibly because I don't "fix floor problem." They cause me fiduciary damage. Insistence that floor is problem will impact resale. Shareholder below wants to buy my place, could be tactic.
Do I have any recourse?
Are there any standards, laws, or regulations, etc., regarding who pays for the superintendent's cell phone in a coop building? Mine is a 55-unit, 6-story apt. coop (with rentals) building.
I ask b/c our super's phone frequently "goes out," making it impossible to reach him for days at a time. He doesn't receive vm or texts. This is not only annoying, but potentially dangerous in an emergency.
Knowledgeable advice or direction appreciated. Not so interested in opinions, thanks.
I can’t leave additional comments to my original post, so I created a new one.
First of all, thank you, queen & Marty for your support. I started the battle from April 2019 and it was frustrating because I could find very little information and there was no support.
You guys have been so great. I can’t thank you enough.
I just heard back from the DOF. This is better than I expected. Please see below.
As requested the tax benefit breakdown sent out 12/2019 is attached. Please note in the 19/20 report it states the new shareholders NEW OWNERS’ NAME as receiving the 19/20 abatement, but this is incorrect, this abatement should be distributed to the previous shareholder MY NAME since she didn't sell the coop until 1/23/2019 which was after the 1/5/2019 taxable status date and primary residency wasn't changed to No on the 19/20 change form submitted in February 2019. Please advise management of this. Additionally for the new owners of apt XXXX to receive the CCA beginning TY 2020/21, they must be on the change form as new owners, primary residency Yes by the 2/15/2020 deadline.
Thank you for contacting the NYC Dept. of Finance,
Property Exemptions Administration Customer Service
The property manager really screwed up!
I probably shouldn’t let the management company know about the mistake he made until 2/15 deadline lol.
As a matter of fact, I wonder if they tried to lie about the status.
The coop I sold is a studio. They have a house in NJ. Their daughter is living there.
I’m going to talk to the management company with confidence!
This is Jeff with MyDoorView. We have just released our new 7" panel, 10" inch is scheduled for release in June '20.
Please feel free to email me for a spec sheet. Jeff@mydoorview.com - I have included some features below.
Also: Our original product launched in 2014 is a software platform with the ability to add streaming video to any brand of legacy telephone entry, much less expensive than replacing a panel.
The VEU-7 By MyDoorView
VEU-7” Entry System is an exterior rated access call box for residential, multi-family and commercial applications. The system was developed by MyDoorView with open architecture software for third party integration.
Our portal is used for resident and feature management and allows for network integrations with other service providers streamlining database management.
SIP/IP calling via POE
A single POE (power over ethernet) connection is used to provide both data and power to the VUE-7 panel up to 300 feet from head-end.
Video Calling to Phone, Tablet, and PC
The resident will view who is at the door and be able to release the door-lock from the app giving access to the visitors. With one-way video, two-way voice, visitors will not be able to see the resident, but the resident will see the visitor.
Video and Still Image - Date and Time Logging
The resident app and management portal display an image of all pin uses and a five-second video of all video calls with date, time and name of resident called. Data is stored for 90 days and can be exported via CSV.
One call from the panel will call all devices in the group. Family groups can be added by management in the portal (resident control of this feature is due Q2-2020).
Limited Use Pins
This allows residents to send an entry pin from the MyDoorView app via text to a guest that will auto-expire after a pre-determined time and/or a pre-determined number of uses from 1-99. All successful and failed pin uses will capture an image. More than five failed attempts in a row will notify management by SMS text and/or email with images.
Door and Gate Control
This helps management monitor the traffic and keep track of all vehicles and/or people entering the property, creating entry logs.
Anti-glare Tempered Touch Glass
Matte finish reduces glare, resists fingerprints, and supports gloved hands.
Flush Mount, Surface Mount and Surface Mount with Rain Hood.
1 Year Warranty
Operating temp: -4 to 140 degrees F
Weather rated: IP65
5600 Oakbrook Parkway
Norcross, GA 30093
WE converted from Coop to Condo in 2007. We changed management and were unfamiliar if Condos get property tax abatements so we asked our new management . Our new managements said no Condos do not get them ( I was a President at the time as I recall). We stupidly believed them for why would they lie?. Well in 2016 I was speaking to a City employee for the DOB and they said Condos most certainly are entitled to Property tax abatements. They emailed me a form and I confronted our management with the form. They then said that it is only for new condos, another lie (fool us once , but not twice). I said where does it say that??. I made them fill out the forms but it took a year to get everyone's SS# (which they really should have had all along if you asked me) We still did not get anything only for them to say they put the wrong code in and we should get them retroactive for those two years that I made them apply for. We should get it in October--well October came and went no tax abatements.
Then the CEO said the tax abatements on a Board member's tax bill who had some credit of 3 dollars was the tax abatement( was not listed as a tax abatement, just a credit). Ridiculous!. I know we use to get $450 or there about as a coop. Is he kidding?? I called the DOB and they said we should get tax abatement approx. $1,000.00 per unit and we should be getting it.
WE lost out all those 10 years of having our taxes reduced by 28.1 percent due to managements lies to us that Condos do not get tax abatementst. Approximately $1,000 per unit. One Board member said it was just due to laziness on managements part and shrugged it off. No way should that much money be shrugged off. What can be done besides just contacting an attorney. Any suggestions?. How are condo tax abatements dispersed? I will also call the DOB to find out for I do not trust management.
The unit I sold beginning of 2019 got the 2019/2020 Coop Abatement but when it was disbursed to the unit, I was no longer a shareholder. The buyer received the credit.
I read articles and answers about the Coop Abatement on this site and found the following:
the abatement doesn't belong to the co-op. It's one of the few things that actually belongs to the individual shareholders.
I have a copy of the benefit letter that was sent from DOF to the coop. My name was listed as the Owner.
Can I claim the abatement is mine even though I’m no longer the shareholder.
The management said the abatement stays with the unit hence the new shareholder.
Incidentally the new shareholder would not be eligible to receive it by definition. Nor will they be next tax year because of sale date.
If this is correct, do you know of any legal precedent that we can refer to?
Coop bylaws makes no mention of a case like this.
Thank you for any advice you can give.
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.