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are managing agents licensed?May 28, 2007


Hi knowledgeable colleagues,

Must managing agents be licenced? If so, who licenses them (state? city? agency?) and where/how would one lodge complaints?

--Stressed shareholder

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Re: are managing agents licensed? - Pgrech May 29, 2007


NO. Currently Managing agents for residential buildings are not required to be certified or licensed.
If your managing agent has a certification, this you can tell by three or four letters following his/her name, you can lodge a complaint with the organization that supplied the certification.
Pg

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managers' licence - anon May 29, 2007


Alas.

No wonder so many are so poor.

I'd like to be involved in such an effort.

Thanks for your help, PG.

--shareholder

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managing agents licences - anon May 29, 2007


So, beyond going to the DA, how do you deal with an agent involved in improper or questionable behavior, or simply a poor manager, who doesn't respond to problems?

If the board won't fire them, I mean.

Better biz bureau, consumer affairs, picket the office, write (ha) our state legislators?

--Shareholder

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managing agents license - DN May 29, 2007


Take charge of the situation, Shareholder. You should run for the Board. Better yet, run with group of other like minded candidates who will change the management company once you're on the Board. Best of luck.

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managing agent's license - anon May 29, 2007


Yes, served on the board for a number of years myself, with a more enlightened group. Unfortunately, our successors seem to be having a harder time.

Coops as institutions are seriously flawed. An agent license -- a license one can move against, lodge complaints against, remove - might provide some firm improvements.

Why don't we contact our assembly representatives, and try to move that bill?

Thanks again all

--Shareholder (who alas much remain "anon")

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Managing agent (to anon) - FN May 29, 2007


The horse is probably dead on this one. Anon (because there are so many anons out there and we dont know if there is one anon, two anons, same person etc). Give yourself a name, how about "Brad" or " Paris or Nicole"

Fat Nickie

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managing agent - anon May 29, 2007


Hi,

"Disillusioned" might work just as well.

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Are agents licenced (to Disillusioned) - FN May 29, 2007


Thanks, Disillusioned, easier to follow the trail now.

FN.

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Managers licenses? - David May 29, 2007


To Anon: Very regretfully the answer is: NO.
According to the REBNY they are "Capable" of monitoring themselves consequently the bill to license is in moth balls in Albany.

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Managing agents (to Anon) - FN May 29, 2007


Please anon (no anons). Now sad to say they are not, but the good people that run your building RM/Super/handymen/porters etc spend a great deal of their time taking courses and classes to help the building run as smoothly and efficiently as possible.

Got to run (must go to school) FN

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Re: are managing agents licensed? - AR May 31, 2007


I wasn't going to chime in on this one, but...

As a managing agent, I went to NYU for classes to achieve a CPM designation, which ethic courses are a requisite; I am a registered apartment manager (RAM) through NAHB. I also ensure that a fidelity insurance policy is in place for all sites covered. (I am currently in process of opening/starting my own management company)

My point is, that a good manager will have some sort of check and balance system, some type of ethical model and a set system for handling certain sensitive situations. These are things that should be discovered during the initial interview with the agent or management company.

Depending on the nature of the complaint you have, the authority you complain to may be different.

~AR

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To AR - Mike Mac May 31, 2007


I would like to know when you start up your management company, please let us all know the name and information on your company when the time is right, Good luck to you.

Mike MacGowan,
President
Manhattan Resident Manager.s Club, Inc.

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Interviewing a Manager - AdC Jun 01, 2007


AR,

As I mention before, you have given excellent answers in the past from the management point of view. In fact, I have commended you for your integrity as a manager.

Perhaps you should "educate" the participants of this chatroom by providing us with some of the questions that shareholders who participate in selection of management should ask candidates when interviewing for a new management company.

Also, what due diligence should board exercise to ensure that the new management company will perform as they had hoped for.

Thanks!!!

AdC

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Re: Interviewing a Manager - AR Jun 01, 2007


Thanks AdC for the complements!

Property managers owe the owners a fiduciary obligation, which means in simple terms to act in a position of trust for the benefit of the principal (or Cooperative/Condo).

As per my previous post..
"...a good manager will have some sort of check and balance system, some type of ethical model and a set system for handling certain sensitive situations. These are things that should be discovered during the initial interview with the agent or management company..."

Paramount to hiring an agent/company is knowing what your needs are.
Then we can establish a check list to hire.

Several principals:
~ Hire a company that only uses licensed and insured vendors, not in-house staff.
~ Hire a company that has managers with credentials (there is added accountability to him/her).
~ Hire a company that is primarily the property management business .You don’t want a company that manages your property as a loss leader to attract owners to sell them more lucrative services like maintenance or listings and sales.

The answers to those will help you decide who is best qualified to manage your property!

The individual agent/manager should be able to answer:

~ Communication – All board members should have a cell phone number for the pm, and all residents his/her email address. (I like email best because it creates a trail, reminders, and is much faster and more effective)
~ Bidding process - how are larger projects handled? How are the bids reviewed and decided on? Also, smaller day to day repairs.. how are these handled?
~ How are emergencies handled? - give a scenario: Mrs. Jones in 5A has water seepage in her bathroom, there are 6 more floors above her.. What procedure do you take to determine the cause, resolution and conclusion?

There are many more that can be added to the list, but these are what I think to be the main ones.
Check also to see if any complaints have been filed against them.

Finally, when you hire a company that will be charging you approximately $2.00 per day per unit, don’t ask how to get it done cheaper! Instead, you should be asking what efforts will be made to extend the life of your property, develop a budget to increase your equity and cash flow and assist in reaching your written goals.

Hope this helps!!

~AR

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Thank you for your insights - AdC Jun 01, 2007


You've given great food for thought! I'm glad you placed a value on managing a unit per day, i.e., $2.00. I'm sure many of those who complain about management companies may see the value rather steep. However, they get the services that they are paying for.

Over the years, I have come to respect the value that management may provide and fully understand that the price you are quoting is more than fair. In fact, I have told many shareholders that what do they expect by way of services if the cost of our management has remained the same for the past 7 years? Obviously, the services will be according to the current price they pay.

Thank you.

AdC




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Managing Agents do need a license - Mike Jun 05, 2007


Yes, managing agents ARE required to be licensed in NYC!

How is it that nobody seems to be aware of this. Any person collecting rent, or maintenance in a co-op, or common charges in a condo, on behalf of someone else must hold a real estate brokers license under the Division of Licensing, State of New York.

Any complaints you may have against a managing agent can be brought to the Division of Licensing for disceplenary action. If an agent loses his license, he can no longer operate his business.



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agent licensing - anon Jun 05, 2007


Mike, you are a godsend! Thanks ever so much. Will follow up!

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agents - Bob Jun 05, 2007


No anons please anon

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Mike - managing agents - license - J Jun 08, 2007


Sorry Mike - apparently managing agents are not under domain of New York State Department of Licenses - Brokers yes - and no you cannot piggy back a complaint against a managing agent for wrongful conduct onto their broker dealers license - it would have been wonderful if true but unfortunately as many of us know there is no agency that will undertake action against Management companies, board members, etc that includes the District Attorney, Attorney General which under New York State Law is the enforcement for the laws that are on the books which are violated - which is why the problem persists - and of course going to court for this type of action starts at $100,000 - if you have any ideas about how to rectify these problems count me in

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Managing Agents - 357591 Jun 09, 2007


We could start by emailing
1. Habitat and asking them to write an article or put the issue in the magazine for discussion
Should Managing Agents be Licensed.

2. There are 2 large organizations that represent Coops and Condos I can't find the other one.
Education Federation of New York Housing Cooperative and Condominiums 61 20 Grand Central Parkway
Forest Hills, NY 11375 718. 760. 7540. - (V) www./fnyhc.Coop


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Managing Agents Must Be Licensed - Legal Eagle Jul 21, 2008


Managing agents must be licensed Real Estate Brokers in NY, IF they are collecting rent (including maitenance charges). Currently, there is no separate "managing agent license" but NY legislators have been contemplating one for years.

Therefore, if your managing agent is collecting your coop's maitenance, make sure he or she is licensed as a real estate broker. You can easily check for broker license at ny.gov.

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Managing agents must be licensed - J Jul 22, 2008


Legal Eagle -could you please state what agency(s) licenses managing agents and where a complaint should be lodged - thank you

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Managing Agents in NY Must Be Licensed - Legal Eagle Jul 23, 2008


Managing agents collecting rent or maintenance charges (thus acting as fiduciaries) must hold a real estate broker license in New York. Real estate broker licenses are issued by the Division of Licensing at the New York Department of State. Anyone who believes that he or she is a victim of an untrustworthy or incompetent licensee of the Department of State, or who is aware of unlicensed conduct by a person or business engaging in the occupations or businesses regulated by the Department of State, may file a complaint with the Department of State at (212) 417-5790.

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Managing Agents must be licensed - J Jul 24, 2008


To Legal Eagle - Thank you

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Managing agents must be licensed - J Jul 25, 2008


Legal Eagle I called the number listed for complaints against management co - NYS - not them, they gave me another number and unfortunately it turns about to be the Attorney General's office and I like others on this site have gone down that path and they will not do anything which of course is why these things exist and get worse - also I see that another J also responds to you - two different persons

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Managing Agents in NY Must Be Licensed - Legal Eagle Jul 29, 2008


Hi J: I have had success on several occasions by dialing this number to report managing agents collecting rent who are not licensed as NY real estate brokers (as required by NY law), and in fact have followed up in writing to me in each instance advising if it agreed that unlicensed activity was occurring.

Perhaps there was confusion about how you posited your query? There is often confusion around this issue because there is not a separate "Managing Agents License" in NY, but again, if an agent is collecting maitenance fees on behalf of coop then they are acting as fiduciaries and must be licensed as NY Real Estate Broker. Here's a link to Dept of State's Licensing Complaint Procedures, whereby you also have option to file complaint online:

http://www.dos.state.ny.us/cnsl/complain.html

Hope this is helpful.

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Managing Agents in NY Must Be Licensed - Legal Eagle Jul 23, 2008


Sorry J - Mike is correct and your response is inaccurate on several grounds. If a managing agent is collecting rent/maintenance charges (thus acting as fiduciaries), then Article 12-A of the Real Property Law of NY absolutely requires such agents to be licensed by the NY Dept of Licensing as real estate brokers (a real estate salesperson license is not sufficient). Currently there is no separate "Managing Agent License" but the NY legislature has been considering one for years. Therefore, for now, the only licensing requirement is a NY brokers license if the agent is collecting money on behalf of coop.

Those engaging in unlicensed conduct, or who are licensed but acting in an untrustworthy manner, can and should be reported to the NY Department of State. Complaints can be lodged via phone or online.

J - I don't understand your point about needing $100K to go to court? Private citizens do not enforce licensing violations, the Dept of Licensing does. However if a managing agent has breached his/her fiduciary duty to you, then a private cause of action can and should be brought and those actions do not "start at $100K" as you say.

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