Tag: Housing cooperative

Q&A Q&A: Do We Need an Actual Quorum?
2015 November Q&A: Do We Need an Actual Quorum?

Q. We are a cooperative that falls under the purview of the New York State Business Corporation Law. Is there a law in there allowing us to conduct a meeting without a quorum having been reached? We need more than 50% of the vote and cert…

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Board Operations Upholding Your Fiduciary Duty
2015 October Upholding Your Fiduciary Duty

Being on the board of a co-op or condo is a big responsibility—one that shouldn’t be taken lightly. While some people may run for a board seat just to have the title, they need to be prepared to govern fairly and make decisions that are in …

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Board Operations Good Boards Make Strong Communities
2015 October Good Boards Make Strong Communities

Accepting a board position for a homeowners association is no easy task- you can please some of the residents some of the time, but rarely if ever can you please everyone. For board members, serving the community they live in may seem like …

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Finance Planning for the Future
2015 October Planning for the Future

The experience of condo and co-op board members can often feel like a juggling act. There are varied interests in the community that want different things. There's legal counsel, financial advisers, and managers who try to offer the best pr…

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Finance Flip Taxes or Transfer Fees
2015 October Flip Taxes or Transfer Fees

When finances get tight—the last recession period comes to mind—boards and managing agents often look for ways to increase revenues or decrease expenditures. In some cases, the answer is a flip tax, a “transfer fee” that is paid to the co-o…

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Board Operations Bankrolling the Board
2015 September Bankrolling the Board

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…

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