2012 February
2012 February Vol. 32, No. 2
Focus on...Board/Shareholder Relations
The 25th Annual Co-op & Condo Expo
Are you looking for a new management company or financial advisor? Does your
lobby need an extra splash of color? Is your co-op looking for replacement
windows or facade repairs due to Local Law 11 work?
Read More
Following the Golden Rules
Every co-op and condo association has its own house rules—rules and regulations (hopefully) based on common sense and aimed at protecting
residents' safety and quality of life without undue disruption or
inconvenience.
Read More
Involved & Invested
In an urban environment, people can feel isolated, though they live close to
each other. While high-rise residential buildings put families near one
another, living close doesn’t turn a group of neighbors into a community and that’s understandable, since people are busy and schedules are hectic. In some
buildings in their downtime, few residents eagerly attend their building’s annual meeting or socialize with their neighbors. But attracting committed
board members and creating a sense of community improves the quality of life
within the building and saves money. It’s good to know that there are many ways that co-ops and condos can work to
foster a stronger sense of community among their residents, while also
attracting new board members and committee members.
Read More
Renters on the Rise
Last December, The William Beaver House, located at the heart of New York’s Financial District, sat with 209 of its 320 units unsold—units priced from $900,000 to well over $2 million each. Unfortunately, while
sales had gone well for the 47-story luxury building during the previous few
years, the recent economic troubles let to a somewhat desperate situation for
the owner of the lavish property. Read More
Shiny & New
For most people, few things are as stressful—or exciting—as buying a new home. That can be especially true for buyers and residential
unit owners who sign up to be among the first residents in a newly renovated or
constructed condo or co-op complex. There is the smell of the fresh paint, the
shiny new stainless steel appliances, the untouched bath tiles and pristine
hardwood floors— nothing quite beats that feeling of knowing that such a beautiful space is
ours.
Read More
When Construction Projects Go Awry
Construction and renovation projects are necessary, but often troublesome—especially when they're occurring next door. For many residents and building
owners adjacent to an ongoing project, noise, debris and construction zones
diminish respective quality of life. The list of grievances fielded by property
managers can be long, varied and in some cases include damages, or worse.
Read More
Revisiting Reverse Mortgages
According to the most recent U.S. Census in 2010, an estimated 2.5 million
people—or roughly 13.5 percent—of New York’s population is over the age of 65. Older New Yorkers, especially in New York City
live in longtime neighborhoods or in senior-only developments. Some of them may
be in the market for a reverse mortgage, a type of loan structure available to
senior homeowners 62 years of age and older.
Read More
A New Harlem
Today’s Harlem has a celebrity chef whipping up gourmet cornbread for President Barack
Obama, a new Starwood Hotel featuring loft-style rooms geared toward an urban
tech-savvy clientele, a newly opened 174,000-square-foot Target big-box store
that carries everything from Spanish-language greeting cards to multicultural
dolls to locally-produced Southern food. There’s even an intimate speakeasy tucked away on Frederick Douglass Boulevard
offering up live jazz from up and coming local musicians and staffed with
aspiring models serving up couture cocktails.
Read More
National Association for Community Mediation
Unless you live in the perfectly utopian condo or co-op (in which case please
disclose where), conflict is virtually inevitable. Whether is it a noise
complaint or larger issue of governance, disputes between neighbors and board
members will arise yet are fortunately resolvable. However, because many
communities have a difficult time conciliating conflict, many residents and
boards are looking to outside mediation to help negotiate the problem more
effectively, with less dirty looks and cat fights involved. Organizations such
as the National Association for Community Mediation (NAFCM) and the Peace
Institute in Manhattan focus on promoting and utilizing specific resolution
strategies with trained professionals to help solve and mitigate conflicts not
only in condo and co-op communities, but also between family members, employees
and significant others.
Read More
The Boards Role in Landscaping
With spring around the corner, many co-op and condo boards and HOAs start thinking about giving their landscaping design a fresh new look but they want to keep it within their budgets. How can this be accomplished? Some common sense questions will help to accomplish this. Read More
Robert's Rules to the Rescue!
During the Second World War, the United States and its allies invested a fortune in research to understand why so many people in the Axis nations seemed willing to believe the unbelievable, do the undoable, and follow leaders who seemed unhinged. Victory depended on understanding the ideology and behavior of the enemy. When the Cold War followed, these studies continued for the same reasons, and ultimately led to the development of a new field: Political Psychology. Believe it or not, the things learned during those times of great global strife can be applied on even the most micro level—at a co-op or condo board meeting, for example. Read More
Q&A: Is it Ethical to Get Paid?
Is it ethical for board members or immediate family members to choose to do a job that would normally be something the community would get together to do for free (i.e. spreading out mulch in the park, pressure-washing the gazebo or painting it) or hiring outside help for these kind of services. I am concerned because one board member is using her family and herself to get paid for these services. The work is fine, but is this ethical when you are on the board and then request after the work is done to be paid for it? Read More
Q&A: Power Grab
I am a co-op owner. A renovation plan for my apartment was approved by the building, the board and the city. Con Edison added a new power line to the building at no cost because the building was at its capacity for the existing electrical load. It cost the building $150,000 to meter the new power line and also to complete other renovations in the building to facilitate the installation. The building board decided that the cost should be borne by the first shareholders who need to add the extra power. This decision was made after my renovation plan was accepted by the building board and, for that reason, is retroactive to my project. But the addition was made to the common area, which should be the responsibility of the entire cooperative. How can I prove that I am not liable for the $15,000 charged to my co-op unit ($150,000 divided by 10)? Read More
