October 2008 Vol. 28, No. 10
The October 2008 issue of The Cooperator newspaper focuses on Board Operations.
In this issue, you can read about keys to board efficiency, switching managers, the value of transparency, websites for condos and co-ops and sharing difficult decisions with residents.
Visit our archives to see other articles that were published in 2008.
News Briefs
- 11.18.08 As fear and uncertainty stalk those glittering new-condominium showrooms, with their stainless steel kitchens and stone countertops, developers have found a new way to try to calm the nerves of would-be buyers. [NY Times]
- 11.10.08 So why are tenants who rushed to rent space a year ago in the building, at 1095 Avenue of the Americas, rushing to break their leases now? [NY Times]
- 11.10.08 Even though the average price for a Manhattan apartment, at $1.5 million, is higher than it was a year ago, some New York neighborhoods have already started to feel the downward tug that has wrenched the housing market elsewhere in the nation. [NY Times]
- 10.27.08 Thousands of Manhattan's most elite co-op dwellers do not break a wall or move a sink without Mr. Glass’s approval. [NY Times]
- 10.24.08 As some New Yorkers try to take advantage of a slowing real estate market, they’re seeking loans from lenders whom they haven’t borrowed from in years: their parents and other relatives. [NY Times]
- 10.24.08 If there was any doubt that real estate in New York City had finally shifted from the high-flying seller’s market of recent years into a buyer’s market, consider the strategies that some developers of new condominiums have recently adopted... [NY Times]
Featured Articles
Sharing Difficult Decisions with Residents
Like telling kids the awful truth about Santa Claus or deciding to spend the holiday bonus on treasury bonds instead of a trip to the Bahamas, sometimes we all have to say or do unpleasant or unpopular things. The same is true for co-op and condo board members, most of whom will one day face the dreary prospect of raising maintenance fees, instituting assessments or levying flip taxes. Those tasks may come with the territory but that doesn’t make it any easier for the men and women who have to step forth and break the news to friends and neighbors alike. Read More
Developing an Online Presence
Nowadays people are using their computers to connect to the Internet for just about every facet of their lives. Whether it’s buying cheap airline tickets, making reservations at their favorite restaurant or connecting with old friends on Facebook, most people are parked in front of their computer screens or connect remotely with their BlackBerry or iPhone at all hours of the day or night. Read More
Seeing Through it All
Any relationship depends upon effective communication to function properly. In a co-op or condo, the relationship between the board and managing agent, or between the board and the shareholders, all have boundaries regarding what is acceptable for discussion, and what information is available to inquisitive eyes. Documents that a board member could be privy to might be sealed to nearly all others, while legally speaking, some community records should be available for the asking to every resident of a building. Read More
Avoiding Sticky Situations
Most co-op and condo boards that hire managing agents, rather than manage themselves with in-house staff, are reasonably satisfied with them. After all, the managers are presumably trained and experienced professionals. Read More
The Key to Board Efficiency
Until recently, Claudia Tracey worked full time in a position that required an extensive amount of travel. At the same time she was, and still is, board president at Hampton Vistas Condominiums in Manorville, New York, which just went through an $860,000 assessment for major renovation work spread out among 48 owners. Their typical monthly board meetings turned into weekly meetings until the assessment was complete. Read More
