2008 June
2008 June Vol. 28, No. 6
Focus on...Law & Legislation
It's a Dog's Life
Daisy Okas works for the American Kennel Club and obviously loves dogs, so when she was looking for an apartment for herself and Olive, her six-year-old beagle, there was no negotiation—she had to live in a pet-friendly building. Read More
Compairing Apples to Oranges?
Co-op apartment buildings were originally formed in New York City to allow building residents to buy into and have a say in how their building was administered, as well as who their neighbors were, and what those neighbors were allowed to do within the building. This is in contrast to condos, which are real property. As such, their owners are typically not subject to the intense scrutiny and regulation co-op shareholders can be. Read More
What Happens When a Board Goes to Far?
Co-op and condo owners often complain that their board doesn’t do enough, or that the board members aren’t involved as much as they would like in the administration and maintenance of their building. While a disinterested or apathetic board is certainly a problem, going to the other extreme can be just as bad…or maybe even worse. Read More
Complying for Safety
In addition to their boards and managing agents, co-op and condo communities depend on the many workers who take care of building maintenance and residents’ needs. Building staff, maintenance workers, the super, and other employees are all essential to maintaining a well-run building. At the same time, these workers have the right to do their jobs in a safe environment, in a building that abides by local, state and federal laws. With that in mind, boards and managing agents must stay abreast of all relevant rules and regulations to ensure a safe working environment for their staff members. Read More
From Albany to City Hall
The current sessions in both Albany and in the New York City Council are now well under way, and housing-related bills are very much a part of the mix. Some of the bills have been around for years in one form or another, but that doesn’t mean they’re any less relevant—or less controversial. Read More
Protection from Lawsuits
The best rule of thumb for boards is to act as ethically as possible. That way, shareholders will never have a problem with the decisions the board makes, right? Wrong. Read More
More than Just a Family Vacation
Timeshares have been around for decades, and these partial property ownership arrangements are more familiar to many people in part because of their increasing popularity. It’s easy to see why they are so popular: A family wants a vacation home, but rather than take out a new mortgage and buy a property outright, they pay to share an existing property with other investors. The fee they pay entitles them to use the property for a specified period of time at a certain time of the year. Read More
The Value of Continuing Education for Managers
The phrase “jack of all trades” could have been coined simply to describe the profession of residential property manager. To succeed in this fast-paced business, a property manager has to master a wealth of information and skills. More importantly, they continuously have to cultivate those skill sets and pools of knowledge, keeping up with new legislation, new accounting rules, new technologies, software and much, much more. Which is why continuing education is such a must for today’s property managers. Luckily, there are a host of educational opportunities from which they can choose. Read More
Cable Choices for Co-ops and Condos
Two months ago, Sam Levy felt like he was spending more time on the phone with Time Warner than with his girlfriend Nikki. Levy, who lives in western Brooklyn, a region served exclusively by Time Warner, was having trouble with his cable service and Internet connection, and, working full time, he could not wait around his apartment for the cable repairman between the hours of noon and 5 p.m. Read More
Education, Information and Invaluable Insights
For over two decades, The Cooperator’s annual Co-op & Condo Expo has been a perennial save-the-date for anyone and everyone associated with the tri-state area’s co-op and condo building communities. Since 1987, vendors, service providers, board members, building staff members and residents alike have been coming to the Expo to learn about new products and technologies, exchange information, network and improve how their buildings are run. Read More
More Thans Just Glitz, Glamour & Crystal Balls
The heart of New York City is Times Square. Named for the good times you have when you are…in it,” says Michael Scott in the NBC comedy, The Office. He then heads into Sbarro for a ‘real’ New York slice. Read More
New York City's Fiscal Plan
Mayor Michael R. Bloomberg proposed a $59.1 billion budget plan for Fiscal Year 2009 and presented an updated four-year financial plan for New York City. The mayor’s budget plan maintains the city’s financial footing in the near term by reining in expenditures across the city, with city-funded spending only expected to grow by 0.1 percent. Read More
Conserving Energy
While increasing energy costs are financially painful, they do help motivate all of us to think a little bit more about resources and conservation. Read More
A Look at the Attorney General's Office
Most New Yorkers are familiar with New York State Attorney General Andrew Cuomo, but how many people have heard the name Kenneth Demario before? If you’re someone concerned with co-ops, condos or any real estate issues in the city, Demario is someone you need to know. Read More
What Happens When an Owner Dies
In this world, nothing is a certainty but death and taxes. So how does a co-op or condo owner prepare for the certainty of death, as it relates to ownership interest and protect the asset for inheritance and possession purposes? Likewise, how does a board of directors exert control over who ultimately owns—as well as resides in—the apartment when a shareholder or deeded owner dies? One might think that it’s simply a matter of looking at a will to determine both ownership and possessory interests, but nothing in the world of New York real estate is ever simple. The type of ownership interest and, in the case of a co-op, the terms of the proprietary lease are crucial pieces that must be unraveled in the inheritance and occupancy puzzle that follows the death of a shareholder. Read More
Good Records Vital Regardless of Building Size
On March 31st, 2008, the Supreme Court of New York County rendered a decision illustrating the importance for cooperatives and condominiums of documenting board and owner action properly. As cooperatives and condominiums age, the proper keeping of records has become an issue for many of them. It is an issue that should not be overlooked. Read More
The Buyer's Guide
If you’re contemplating buying a new home, there are a few vital questions that should be asked, even before you start attending open houses and getting your heart set on one property or another. Among those questions might be, “How do I start the process?” “What can I afford?” “Does the right home exist in my budget?” “Should I buy a co-op, condo or townhouse?” “Will I be approved for financing?” “Will I be approved by a co-op board?” Read More
Tracking Building Energy Usage
Recent studies of energy usage in multifamily buildings have revealed that the least efficient buildings use up to seven times the energy of the most efficient—even when those buildings are otherwise similar. Read More
Questions Boards Should Ask
Most people living in a co-op or condominium building don’t have much experience with managing major construction projects. They may have skills that can be very helpful to their board—such as financial acumen, to name just one—but not construction experience. If the building is lucky, there may be one person on the board who has some familiarity with the process of working with contractors and others on a major renovation. Sometimes there is actually a contractor or an architect on the board, but that’s fairly rare. Read More
Q&A: One Man, One Vote?
I am a rent-stabilized tenant in a non-eviction plan Queens co-op. (It was converted in 1986.) A shareholder gave me a ballot proxy so that I could attend the annual meeting of the co-op. Am I allowed to ask questions at this meeting as are the shareholders? Read More
Q&A: Roaches and Mice, Oh My!
Do you have any information on what to do about a neighbor who admittedly has roaches and occasionally mice? Doesn’t management have the right to go into an apartment for sanitary reasons? What about the health and cleanliness of the rest of the apartments on the floor? Read More
Q&A: Public Financing for Wheelchair Ramps
I am on the board of a cooperative that is over forty-years-old. We wish to replace steps in the lobby with ramps to accommodate wheelchairs. We want to know if we can receive any public financing since we are helping the disabled. Read More
Q&A: Commotion in the Common Areas
I live in a co-op where some fellow owners and their children are very disruptive in the common areas and are damaging the building and my personal belongings. What are our rights? Some owners think that because we are all connected that our property is open space. What recourse do I have? Read More
