We are about to complete a façade restoration on our small co-op (12 units) at a cost of $250,000. Is it advisable to file for J51? If so, does anybody have recommendations on professionals who do this?
Thank you very much.
We are a condo and a by-law states that we have the right to charge the unit owner our legal fees in regards to defending our by-laws if a law suit insues. OUR CEO said that as of june 1st , you can no longer charge a unit owner the lawyers fee in regards to defending the by-laws. We live in NYC.Has anyone ever heard of such a thing. Or that a City law can supersede the by-laws made by NYS?> Join the conversation Comments (2)
I live in a coop that has no subletting allowed yet we have two that I know of. One is subletting for years and another has "guests" coming in and out all the time. We have tried to sell our apartment twice unsuccessfully. We lowered our price twice and management told us just keep dropping the price until it sells. Because of the precedent of subletting we requested to sublet our apartment so we can leave this place. Management has not responded to our request. So we are thinking about doing it without permission like others have. Also we are wondering what our chances are with taking our building to court for the right to sublet. Or if they take us to court what are our chances of winning? Has anyone run into something like this? If so your response would be appreciated.> Join the conversation Comments (2)
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
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