It only takes a few minutes of a web search to uncover the traits that make a successful person or business owner. For example, Entrepreneur magazine’s Steven Key wrote the article, “5 Qualities of Successful Persons,” which included such …
Serving on the board is not all fun and games, glamor and glory. There’s also some paperwork involved. In fact, the flow of paperwork is the lifeblood of the community. The Articles of Incorporation, proprietary lease and bylaws in a…
Even before the economic meltdown and the media storm swirling around the thievery of money men like Bernie Madoff, financial mismanagement and fraud have been destructive problems for many co-op and condo owners. A co-op or condo is…
Community living' in the context of a co-op or condo building means abiding by a set of rules and regulations designed to serve the community’s best interests and maintain property values. The building board makes the rules, and the reside…
What happens when there is no quorum at a shareholders meeting and therefore there is no election for new board members? The same board has remained in my co-op for many, many years without a chance for us to vote them out. Isn't there a la…
Whether change is good or bad often depends on who you talk to; even a welcome change produces a certain level of stress and adjustment. Personal changes are challenging enough, but for co-op and condo residents, a board decision to change…
Most co-op and condo board members are not fully aware of all of the financial risks and liabilities associated with their service. Some may not realize that the management company, the co-op corporation board or homeowner's association is…
Q For the past few years, the condominium board and management has consistently denied me my bylaw rights to audit and inspect the books of the condominium. What action can I take? —Righteous in Riverdale A “Most condominium byl…
I am the president of a board of managers where a member of the board is also a realtor. He manages units in the condo and owns two of the units. Just wondering—is this a conflict of interest? —Brokering in Brooklyn “Clearly, there…
Q If the majority of board members pass a motion, and the president or other members of the board decide to ignore the majority's vote and proceed in opposition to their directive, what recourse do the board members have? Is there anythin…