ARCHIVE SEARCH RESULTS

Structural engineers tackled leaks in a Queens co-op. High salinity water threatened the basement, but thermography pinpointed ingress points for targeted repairs.

Building management systems (BMS) monitor equipment, alerting supers for corrections. Energy management platforms make real-time, remote adjustments, optimizing energy use 24/7. Any building can benefit.

Boards need to adhere to spending limits outlined in bylaws, but emergency repairs may allow some leeway under the business judgment rule. Proactive bylaw updates are wise to reflect current costs.

For delinquent shareholder payments, boards can choose between communication and legal action, depending on proprietary lease terms and preferences for resolving the issue.

Mandatory facade work every five years often leads to costly access agreements with neighboring buildings. Legal procedures can be slow and unhelpful. Better communication and sharing specific information can expedite the process.

When dealing with a neighboring construction project, request architectural and engineering plans. Have your professionals assess the impact and secure payment for fees and an escrow account for costs.

The business judgment rule can offer boards protection in various categories, with boards generally having more protection in contractual issues. Directors and officers insurance covers these claims, but only up to a point.

New board members must understand their fiduciary duty, legal responsibilities, and consequences of breaching trust when serving their community.

Elderly co-op shareholders are increasingly transferring ownership of shares to trusts for estate planning. Conditional consent agreements can address concerns.

In condominiums, commercial unit-owners may be asked to pay for expenses unrelated to their unit. Bylaws and agreements govern these obligations, often leading to negotiations.