Legislatures are in session, both in the city and in Albany, and, as always, housing is a hot issue. What bills should co-op and condo board members, managers and owners be looking at that may impact their residences?
While there are basic laws that govern condos and co-ops—statewide, condominiums fall under the New York State Condominium Act and cooperatives fall under the Business Corporation Law—new issues come up all the time, necessitating new laws and initiatives on both the state and local levels.
The great majority of housing-related bills don't directly affect condo, co-op and HOA residents, but do cover a wide range of topics, from requirements for housing court clerks to Mitchell-Lama (federally-controlled rentals and co-ops) rental tenants to pets in housing projects. Some of the bills are specific to one municipality, such as one that "creates the central Buffalo housing development corporation."
Legislation Under Consideration
Often, the same bills, with some modification, are introduced year after year, proving the old saying, "If at first you don't succeed, try, try again."
Among the bills in Albany that relate to New York City condo and co-op residents is A00475 (O'Donnell-Clark, referred to Housing Committee) which would establish a licensing procedure for building managers of multiple dwellings in New York City and would require them to take a class. A01000 (Grannis-Pretlow, referred to Governmental Operations), which has gotten a lot of attention in the media lately, would require cooperative housing corporations to provide a prospective purchaser with a written statement of reasons when denying his or her application.