Category: Board Operations

Board Operations
1996 Jun Sharing The Workload

Board members don't always see eye to eye. In a tragic case in Boynton Beach, Florida, an argument over the number of votes needed for a quorum led to the accidental death of a 70-year-old board member. During a discussion about the upcomin…

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Board Operations
1996 Mar The Elderly Population is Booming

Will you trade in your co-op or condo for a Florida address when you reach retirement age? Don't be so sure. More and more New Yorkers are choosing to age in place in the same apartment they fell in love with when they were in their prime. …

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Board Operations
1996 Feb Preserving Institutional Memory

One of the most common problems in co-op and condo management is the failure of building boards and staff to maintain accurate and accessible records of the past performance and activities within the building. Recording the minutes of board…

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Board Operations
1996 Feb The Value of Newsletters

The terraces were crumbling and the board engaged an engineer to make a recommendation. When the engineer reported that the terraces needed several hundred thousand dollars worth of repairs, the board went through a bidding process with the…

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Board Operations
1995 Nov A Team Effort

Anyone who has spent time serving on the board of his or her co-op or condo knows that it is a job that no one can do alone. Even if you have the most conscientious group of board members, the job is too time-consuming for a group of volunt…

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Board Operations
1995 Nov Working With Your Accountant

While real estate brokers live by the old adage, Location, Location, Location, accountants define their relationships with the real estate community with another phrase: Communication, Communi-cation, Communication. While cooperatives and c…

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Board Operations
1995 Oct Limiting Sponsor Power

All too often boards of co-ops and condos find themselves at the mercy of the conversion sponsor. Wielding his influence over the building and all its affairs, the sponsor's goals are frequently in contrast with those of the board and build…

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Board Operations
1995 Oct Honest Board Elections

Imagine that your building's sponsor has planted a friend or business partner in one of the units he owns in the building. This shareholder then decides to run for a seat on the board and with the help of the sponsor, wins. In addition t…

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Board Operations
1995 Oct Welcome Aboard. . .Now What?

Tom Marcossan laughs when he remembers joining the board as treasurer when his building went co-op in 1986. "I was stupid. I didn't read the magazines available or take advantage of any organizations out there. We were the first board the b…

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Board Operations
1995 May The Role of the Treasurer

The co-op and condo community has been shocked by recent disclosures concerning inappropriate and/or illegal activities by real estate managing agents, their employees and the various industries selling supplies and materials to co-ops and …

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