Page 3 - The NY Cooperator August 2020

COOPERATOR.COM THE COOPERATOR — AUGUST 2020 3 TABLE OF CONTENTS Yale Robbins Publisher Henry Robbins Executive Vice President Joanna DiPaola Associate Publisher Hannah Fons Senior Editor Darcey Gerstein Associate Editor Pat Gale Associate Editor Shirly Korchak Art Director Anne Anastasi Production Manager Alan J. Sidransky Staff Writer Peter Chase Director of Sales Fred Marks Director of Sales A NEW WEBINAR SERIES! Tune in, ask questions, and gain professional insight to help your community thrive! Sponsored by experts from across the multifamily residential industry, our FREE ‘town hall’ style conversations cover the issues board members and managers deal with every day. FREE REGISTRATION AT COOPERATOR.COM/EVENTS The Cooperator is published monthly by Yale Robbins Publications, LLC, 205 Lexington Ave., New York, NY 10016, (212) 683-5700. President: Yale Robbins, Executive Vice President: Henry Robbins. Subscriptions are available free by request to co-op and condo board members and homeowner associations. POSTMASTER: Send address changes to The Cooperator, 205 Lexington Ave., New York, NY 10016. ©Yale Robbins Publications, LLC 2020. All rights reserved. Application to mail Periodicals postage rates is pending at New York NY. FREE Subscriptions for Board Members, Property Managers and Real Estate Decision Makers. To Subscribe, please visit us at: cooperator.com/subscribe Insurance Coverage vs. COVID-19.............. 1 By its very definition, insurance coverage is planned protection against both the expected and the unexpected. Life insurance clearly provides financial security in the event of death, which of course is an eventual certainty. But at the same time, it also provides for circumstances in which someone’s passing is early or sudden. On the other hand, something like flood insurance provides protection against a ‘known unknown’—a potential threat that can be prepared for to some degree through intelligent analysis of risk. As such, insurance is a generally accepted method of handling potential risk in the business world. What New Board Members Need to Know ...... . 1 Residential communities such as co-ops, condos, and HOAs are unique in that they take the governance of their properties into their own hands. While most properties do have managing agents to oversee staff and to handle the day-to-day operations, ultimately, it’s the board of directors or trustees that makes policy and determines the continuing health of the community. Board positions are filled by unit owner or shareholder volunteers—the positions are almost universally unpaid. Community members give of their time and expertise freely, and with the intent to do their ‘civic’ duty and protect the investment of themselves and their neighbors. Handling Harassment in Multifamily Housing.... 1 Whether you live in a super-luxe Park Avenue co-op in New York City, a beachfront condo in Florida, a sprawling HOA in Nevada, or a multifamily community in the Berkshires, one thing is certain: you have neighbors. Hopefully they’re the people you grill with on a summer afternoon; the providers of a spare cup of sugar when you run out; the folks who water your plants when you leave town … some even might have attended your child’s wedding or helped you through trying times. Pulse..................... 4 Q&A..................... 5 Service Directory.............. 10