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Board/Shareholder Relations
The Industry's Biggest Trade Show Returns
Spring means many things to many people—but for anyone involved in the tri-state area's residential real estate industry, The Cooperator's 21st Annual Co-op & Condo Expo—to be held this year on Tuesday, April 29th on three floors of the Hilton New York—is as much a part of the season as budding trees and warmer temperatures. Read More
Deploy the Welcome Wagon
Fifty years ago, residents new to a neighborhood might be greeted by a Welcome Wagon hostess in an A-line skirt and perfect matte lipstick bearing a basket full of goodies from local merchants. She'd give the homeowners the lowdown on who's who, what's what and leave the new neighbors with the warm and fuzzy feeling that their new community, especially the local merchants, really cared. Read More
Trickle-Down Effect on Buildings and Boards
Bear Stearns in Danger of Collapse… Dow Falls 400 in One Day… Big Three Automakers Seek Emergency Aid… Citigroup Shares Tumble Below $5 a Share… Dow drops below $8,000… Federal Regulators Shut Down Two California Thrifts… More Consumers Switch To Buying With Cash…
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Board Resource Guide: A Look at the Board Member Election Process
It is an annual rite of passage for owners of co-ops and condos. Once a year or thereabouts, they gather in a common area—in my co-op in Astoria it was the basement, right off the washers and dryers—and vote for next year’s board. Sometimes the elections are closely contested. Often, the same people stay on the board for decades. Sometimes—as was the case with my building—we owners were so desperate to not be on the board that we elected a president, who didn’t even live in the building. Read More
Rules and Problems
Although many co-ops and condos in New York City might not like it, shareholders and unit owners often rent out their apartments to subletters. Board control over subletting can vary—from stringent in most co-ops, to giving the board the first right of refusal in condos. But sometimes, residents try to sidestep the board and allow a subletter to move in. And even with board approval, having a renter, or several renters, in the building could pose problems. Read More
Combining Comfort and Convenience
A recent British survey found that the typical person spends an average of five
years of their life in either their kitchen or their bathroom. That might not
compare with the number of hours logged behind a desk or the wheel of a car,
but it’s a significant chunk of time. With both time and space at a perpetual premium
in New York City, homeowners seeking to maximize their enjoyment and comfort in
these defining rooms really have their work cut out for them. Read More
Board Resource Guide: A Vital Board Tool, But Beware
Like it or not, e-mail is a permanent fixture of contemporary business communications. In real estate, board members and property managers use e-mail to discuss the most official and the most personal matters of their lives, from scheduling meetings to disseminating documents, to sharing a quirky video on YouTube. E-mail allows board members to discuss their concerns without having to call a meeting, work around everyone’s schedule, and find a place to physically meet. Read More
Small Town Ambiance in the Big City
A two-mile long sliver of land in the East River between Manhattan and Queens,
Roosevelt Island sits a mere 700 feet from Manhattan’s East Side. Still, many New Yorkers know nothing about Roosevelt Island’s expansive green spaces and unrivaled city views, not to mention the
distinctive small town ambiance of this planned community.
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Taking the Bait
Bugs, rodents, and other pests are always a potential problem in a city or
densely populated suburban area—and even upscale, well-maintained buildings are not impervious to the occasional
unwelcome interloper. Cockroaches invade kitchens, termites feast on
foundations and walls, bees sting humans, and now bedbugs have hogged the press
as the latest plague du jour. No two ways about it: if your property falls
behind on the pest-control front, you’ve got yourself a menagerie. Read More
Who Really Runs the Building?
Most people assume that the board of directors runs the building. Actually the responsibilities for maintaining the building are usually divided
between the board of directors and the managing agent. Both parties perform
their functions with the advice and help of many support professionals.
Typically the board establishes the policy and expenditures; and the managing
agent or property manager actually runs and manages the procedures in the
building. It’s important that the manager understand the philosophy and culture of the
building in order to be able to implement the style the board desires. Read More
Dealing with Difficult Board Members
On last season’s “The Apprentice” reality show, celebrities volunteered their time to team up and compete, not
for a job with the Donald Trump organization, but to win a large donation to
their favorite charity. The show’s concept is to win tasks and prevent hearing the infamous words, “You’re Fired!” from Donald Trump. Read More
President's Perspective: In the Eye of the Storm
There I was, innocently removing empty cartons from my new condominium unit. I was approached by a woman on my floor asking why I'd left the cartons where I did. I politely, but firmly, informed her that I was following the superintendent's instructions. Little did I know that I was already being scouted to be a board member. Read More
A Case Study in Queens
My family and I have been living in Glen Oaks Village
in Queens for over 25 years. Originally built for the families of soldiers
returning after World War II, the garden-style cooperative community is one
of the largest in the New York metro area, boasting nearly 3,000 units and
providing housing for some 10,000 residents. Read More
Building Community Through Communication
The "mortar" that cements together the building blocks for community is communication between homeowners and the leadership team. The following types of communication are extremely important: (a) member surveys—both written and via focus groups; (b) annual meetings; (c) town hall meetings / mid-year report-back to owners (you should receive and encourage owner input); (d) service requests/complaints—use a review and response procedure; (e) community activities, such as National "Night Out"; (f) block parties or holiday parties. Read More
