ARCHIVE SEARCH RESULTS

Boards of co-ops and condos should establish a clear arrears policy that outlines the process for collecting unpaid fees, including filing a lien as a backup, and communicating it thoroughly to all residents. (Print: Arrears)

Board members must fulfill their fiduciary duties, including educating themselves on relevant information and acting in the best interests of the building, in order to protect themselves and their fellow board members from potentially devastating legal consequences. (Print: WHEN YOU ARE PROTECTED — AND WHEN YOU’RE NOT)

The Yellowstone injunction is a legal tool that all co-ops and condos with commercial space should be familiar with, as it can complicate a board's eviction efforts and potentially turn what should be a straightforward eviction into a prolonged legal battle. (Print: Evaluate Your Eviction Options)

Aware Buildings has developed a wireless leak detection system using LoRaWAN technology, which can be installed in co-ops and condos without the need for extensive rewiring, and can help reduce insurance premiums by detecting leaks before they cause damage. (Print: Sneaky Leaks)

Forbes-Ergas Design Associates worked with the Rutherford co-op at 230 E. 15th St. to make its lobby ADA compliant by installing a lift, which was more aesthetically pleasing than a ramp, and also provided an additional package storage cabinet to obscure the lift from view. (Print: Short on Space)

Boards must balance transparency with caution when exercising their right to see board documents, keeping records up-to-date and promptly responding to resident requests while exercising discretion to protect sensitive information. (Print: Balance Transparency with Caution)

Understanding the statute of limitations is crucial for boards to effectively manage potential legal claims, as each type of legal claim has a unique timeline and tolling options can extend the period during which a claim can be brought. (Print: Consult Counsel and Act Fast)

A 236-unit condominium in Manhattan's East Side was deemed unsafe due to spalling concrete beneath its aluminum cladding, leading to a $17 million repair project that was overseen by a project management firm to ensure timely completion and cost savings.(Print: When the Concrete Crumbles)

Bylaws are crucial for guiding board decisions, and failing to follow them can have serious consequences, including court-invalidated elections and loss of business judgment rule protection, which can be avoided by understanding and maintaining a working knowledge of bylaws. (Print: Master Your Building’s Operating Manual)

Co-op boards must educate themselves on the legal and financial intricacies of share certificates and liens, transfers, lost certificates, unsold shares, and issuing new shares. (Print: Understand The Complexities Of These Certificates)