Tag: Housing cooperative

Board Operations A Board Too Far
2014 April A Board Too Far

Having apathetic leadership is a problem in some buildings, though a board that oversteps the boundaries of its power or invades the privacy of residents also can be a headache. An informed board, however, should be less apt to go beyond i…

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Finance Bank on It!
2014 April Bank on It!

The New York-New Jersey metropolitan area probably has more banks and other financial institutions than anyplace else in the country. Wall Street is located in Manhattan, after all, and several major banks are headquartered in the Garden S…

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Q&A Q&A: Need Info on Special Assessments
2014 March Q&A: Need Info on Special Assessments

Can a board ask for $3.5 million in a special assessment and not delineate the projects or dollar amounts to the owners? The unit owners have a vague idea what the board wants to do but we have no idea of the scope of the projects, no start…

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Owner Relations Keeping Track of Paperwork
2014 February Keeping Track of Paperwork

While keeping the records of the association is not the most fascinating part of serving on a board, it is in some ways the most important. In fact, the flow of paperwork is the lifeblood of the community. The Articles of Incorporati…

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Finance Worst-Case Scenarios
2014 February Worst-Case Scenarios

New Jersey has had its share of hurricanes and weather disasters over the years, and while sometimes there's ample warning before something calamitous happens, that's not always the case. A bad situation can be made immeasurably worse when…

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Q&A Q&A: Mitigating Noise with Flooring
2014 February Q&A: Mitigating Noise with Flooring

Mitigating Noise with Flooring Q My family is a shareholder of one of eight apartments in a small co-op. The apartment directly above ours was sublet to a family in 1997 that signed an agreement specified by the board of directors r…

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Board Operations The Importance of Being Transparent
2013 July The Importance of Being Transparent

 A key to success and functionality in any relationship is clear, consistent  communication. In a residential community, part of achieving functionality is  managing the information in the governing documents and records which detail  the …

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Management Limits of Board Power
2013 January Limits of Board Power

 Everybody sometimes disagrees with the decisions of their condo or co-op board.  Maybe the choice to rearrange the garbage receptacles out front seems  ridiculous, or the ongoing clattering of machinery on the roof is driving the  top-flo…

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Board Operations Knowledge is Power
2013 January Knowledge is Power

 While essential to the successful operation of all cooperatives or condominiums,  governing documents are often only glossed over by otherwise well-intentioned  board members, residents and property managers leading to potential pitfalls.…

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Q&A Q&A: Rules for Quorum
2012 September Q&A: Rules for Quorum

Q Is there a law allowing us to conduct a meeting without a quorum reached? We need more than 50 percent of the vote and certain shareholders refuse to attend meetings. We don't have a co-op board and cannot elect one. The old board mem…

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