For the most part, human nature is fearful of change; people are more likely to stick with what they have and what they know, rather than explore new possibilities and take on unknown risks. That’s certainly the case with condo and co-o…
Tag: Corporate governance
Remember your first day at a new school? Most likely, you didn’t know a soul, had no idea what the students were learning and you probably felt nervous, intimidated or maybe even afraid. In most cases, this is what it’s like to be a new …
Q Our co-op board has begun a policy of forbidding individual members to communicate with other shareholders about any issues in the building, not just legal matters. Any queries are answered with a stock reply. This board did not run …
Q I am a shareholder in a newly formed co-op in Harlem. About six or eight months ago, the super was fired and a new one was hired. The fired super still lives in his apartment (provided by the co-op) and has filed a discrimination l…
Q 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 …
Q I am a shareholder in a four building, 68 unit co-op. Two years ago, shareholders voted down a board proposal to replace the building’s 23-year-old windows. Recently, the board has decided to go ahead with the project which will co…
As a shareholder or condo owner, you’ve got a gripe. Whether it’s about Mrs. Smith’s poodle barking all day, the neighbor’s teenaged son who blasts his heavy metal music full-volume when his parents aren’t home, or a long-coveted parking…
Q “The board was advised by one of the owners that we must mail all the minutes of each directors’ meeting to all the owners. Is this correct?” —Out in the Open A “In order to answer this question it would be nece…
Q I live in a co-op complex of a few hundred apartments. After 60 years without apartment insurance the present board suddenly decided that all shareholders must carry insurance. This translates into an additional expense of approxim…
We all have needs. Wants, too. In a co-op or condominium, the significant needs or wants of the shareholders and unit owners usually have to be routed through the board or management company. In theory—and, by and large, in pr…