Co-op and condo board members are charged with the all-important responsibility to make critical policy decisions that ensure the building, the property, and their neighbors' interests are cared for and protected. It's a job that requires l…
Rare in all but a few cities around the country, residential co-ops are by far the most prevalent type of owner-occupied apartment in New York City, outnumbering condos by 3-1 by some estimates. According to a study commissioned by N…
Having an apathetic, uncommunicative board is a big issue in many buildings and associations, but the opposite situation—a board that oversteps its authority—can be just as problematic. When a board does something it should not do, or fail…
From the Magna Carta to the U.S. Constitution, written documents have helped shape the way people live and interact with one another for centuries. The fundamental documents that establish co-ops and condos have that same importance in bui…
While it's true that having apathetic leadership is an all-too-common problem in a lot of co-op and condo buildings, having a board that oversteps the boundaries of its power or invades the privacy of residents can be just as bad. Ignoranc…
Of all the stages of co-op life, the initial application and approval process, especially the interview, is certainly the most harrowing. Many people are in fear that just one wrong word will mean the difference between acceptance and reje…
My son-in-law inherited his father's co-op in Manhattan. For two years he's been paying the upkeep charges without being able to live there, yet has been refused "ownership" by the co-op board. He has a considerable amount of cash available…
If your neighbor blasts his music during the weekends, do you have a right to complain to the management? Can you sublet a room in your co-op apartment to make some extra cash? How many unit owners have to be present at a meeting in order …
Q I am currently interested in purchasing a co-op apartment. However, my mortgage broker advised that since the co-op has issued both common and preferred stock, that it does not technically qualify as a co-op under the IRS 216 ruling, …