How do NYC co-ops and condos operate? Governed by an elected board of directors, these housing corporations are like mini-cities with their own bylaws and governing documents. Here you'll find articles on a wide range of topics that co-op and condo board directors need to understand to govern their housing corporation wisely.
Written by Carol Ott on September 25, 2012
The grades are in.
They're not posted, they are not public and you might have to do some digging to find yours.
But if your New York City building is over 50,000 square feet, it was energy-benchmarked by the city and it has now been scored.
Written by W. Alexander Noland, Esq. on September 21, 2012
Condo and co-op boards and property managers should be aware that homeowners do have the right — subject to restrictions — to have service, companion and therapy animals, even when they violate co-op / condo pet restrictions. Yet boards have certain rights as well, including the right to demand medical proof that such an animal is needed.
Written by Tom Soter and Bill Morris on September 20, 2012
One can read about the specified duties of co-op or condo board officers but it's equally important to hear from directors themselves about what the jobs actually entails in real life. In the finale of our series "Board 101," three co-op board secretaries take a few minutes to tell you their experiences in taking a few minutes.
Written by Tom Soter and Bill Morris on September 20, 2012
Sept. 20, 2012 — Time to do the minutes. See? Bet you didn't know there were board-secretary jokes! What else do co-op / condo board members and residents not know about the position of board secretary? For one thing, he or she is responsible for a lot more than just the minutes. How much more? Hours' worth!
In the third and last part of this "Board 101" series that distills the cogent facts from legal and management experts, Tom Soter and Bill Morris explain the basics every board member and even co-op and condominium resident ought to know about their board secretary's responsibilities.
Written by Tom Soter and Bill Morris on September 18, 2012
It's one thing to read about co-op or condo board officers' duties and responsibilities. But only another board officer can tell you what it's really like. In our ongoing series "Board 101," we present three co-op board treasurers sharing some of the most significant and even amusing things they've learned about taking on the role.
Written by Tom Soter and Bill Morris on September 18, 2012
TREASURER Duties
Written by Steven J. Tinnelly on September 14, 2012
Every condo or co-op board will at some point hire a vendor to perform certain tasks or furnish services — possibly exposing the building to liability brought about by vendor actions and/or the terms of the vendor contracts. Boards of directors and managing agents must understand how to properly protect the building when hiring a vendor. Three issues are key to doing so: hiring properly licensed, bonded and insured vendors; the employment status of a vendor as an "independent contractor" or an "employee" of the co-op or condo; and the importance of having proposed vendor contracts reviewed by legal counsel prior to execution.
Written by Tom Soter and Bill Morris on September 13, 2012
Paul Vercesi moved into his 80-unit building near Gramercy Park way back in 1962. After the building converted to a co-op in the 1980s, he served a dozen years as the co-op board treasurer, then returned in 2000 as board president, a post he still holds today. His philosophy, in its simplest terms, is to get to know your fellow shareholders so that the board's decisions reflect the will of the majority of the building, not just the majority of the board.
Written by Tom Soter and Bill Morris on September 13, 2012
For those serving on condo or co-op boards, some things are immutable and commonly agreed upon: The president is the head honcho, the big cheese, the first among equals. The treasurer follows the money and let's everyone know whether the maintenance goes up or down. And the secretary gets the facts.
Immutable they may be, but the same? Definitely not. For each officer has his or her own style of operating, from the consensus-builder to the autocrat, and those styles (in long-serving members) often mesh with the needs of the building. In the first of a series, "Board 101," we offer a look at the duties of these three positions and the differing approaches of three board officers each.
Written by Bill Morris on September 11, 2012
As Stephen Budow sees it, there are two kinds of people in this world. One believes a person's home is his or her castle, sacred and inviolable. The other believes the health, comfort, and safety of a person's neighbors are far more important than the sanctity of any castle. Budow, an attorney who has spent the past decade as president of a 65-unit Yorkville condo, used to be the former type. But that began to change about three years ago.