It's 2019 & my fellow shareholders unanimously loath face to face meetings & the delay in scheduling them. Is there a safe and legal way for a coop to hold votes and elections over email? Any downsides or concerns?
Is there anything that need be done with a quorum & face to face?
I'd love if there were some boilerplate available online.
We have recently purchased an apartment in a prewar coop in Westchester County, NY.. Originally, the apartment had gas service, however the previous tenant used electric appliances. The existing gas line was pressure-tested but it failed the test, as you might expect. Whose responsibility is it to restore gas service to the apartment?> Join the conversation
Sometimes questions on the Coop Questionnaire are queries about litigation. If the litigation is a civil suit that has been sealed by the judge, can details be omitted in the response?> Join the conversation
Hello, today we found out that the elevator company we hired in our condo did not fill out the log books on a monthly basis of our 2 elevators maintenance. The books are in the motor room and it seems that if the city come to inspect we might get fined. I appreciate your feedback on this matter. Thanks.> Join the conversation
I live in an Apartment building not a condo nor a co-op, forgive me if this is not the proper channel to discuss my issue, truthfully I don't know where else to post this. With that being said, I am having issues where there are one or more non residents in my building peeing in the corner of a stairwell, my apartment door is less than 2 feet away from that very corner. My super knows this is an issue because his door for his cleaning tools is literally right in that corner. This has been going on for months now, and it is come to the point that the smell of the pee is coming into my apartment and is slowly but surely becoming a health hazard for my family. What can be done in this case, we are a long time renter on the property (20+ years)?> Join the conversation Comments (1)
Our building recently went through a lawsuit (slip and fall) resulting in a costly settlement. The Case took over 8 years. Building was put through the mill with numerous subpoenas and hours of testimony, releasing of records, etc.
The tree was planted by the City over 10 years ago to beautify the neighborhood. I have never seen the tree maintained by the City- in storms branches fall, pit erodes, etc.
The courts found our building solely liable. I find this unbelievable.
Our building just cant afford to maintain the tree. It's bankrupting the building. We cannot afford to be solely liable for a tree shared by many buildings and businesses on the block.
What can our building do? How do we release the building from this liability? We would like the tree removed and the sidewalk replaced.
My co-op consists of different block numbers.
Some of the co-operatives were informed of an upcoming inspection of our apartments for the purpose of local law 87.
I thought the inspection was to check boilers, chillers, electrical and lighting systems, building thermal envelopes, and heating.
Why is management requesting inspection of some apartments?
Someone recently asked about capital planning and budgeting, so I thought I’d post it as a topic in addition to the initial reply since I thought of more information afterward. There is no absolute method, but here's how I do it ...
When creating an annual operating budget, it is wise to create and update a separate capital budget with at least a 5-7 year outlook.
You can find this budget either though reserves if the finances permit, through an assessment (which looks better than raising maintenance), or through raising maintenance (Which is not recommended since it is capital funding), through refi/cash out, etc… .
Create two lists.. needs and wants.
You may need assistance with the needs list as it would contain the following:
1. Local Law Inspections & work (FSIP)
2. Mechanicals (cooling/HVAC/Water Towers)
3. Boiler & Machinery
4. Plumbing/electrical Systems
6. General building condition – roof, stairwells, etc..
7. Abatements (asbestos, lead, etc..)
I have a company that does complete building inspections & budgets; an engineer and other professionals required for some portions.
Pricing and required timelines are next
Organize this list not by price, but by priority as it relates to liability.
Then create and merge your list of desired improvements or projects with priority order being the value add of each item… One may offset another, such as duel fuel conversion to a boiler with a bad burner may aid both categories.. this is what I mean by the value add…
With every item on the list now having a priority number and target date attached, you can back into the finances and how you will fund it.
There are many different ways to go about finding the monies and funding the projects, and in the beginning it may look intimidating, but it gets more and more rewarding as time progresses… It is great when your building gets to a point where you are working only on what improvements you would like to add that year!
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