Page 1 - CooperatorNews NY March 2021
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March 2021                        COOPERATORNEWS.COM  prefer a collaborative board, one that wants to be there. Collaboration   allows for everyone to give an opinion and make a consensus decision,   even if it’s not the one I personally recommend. I also like a ‘big-pic-  ture’ board—one that’s involved, but not bogged down with minutia. A   board should never spend an hour discussing what type of cut   owers   should be placed in the lobby. I want them to see where we are spend-  NEW YORK  THE CO-OP & CONDO RESOURCE  COOPERATORNEWS  continued on page 12   205 Lexington Avenue, NY, NY 10016 • CHANGE SERVICE REQUESTED  While residents generally like the idea   of community that living in a condomin-  ium or co-op provides (that’s why many   opt for this type of ownership), few are as   excited about the idea of serving on their   community’s governing board, or on any   of the various committees their board   may set up to oversee special projects. As   important as long-term supervision of   many speci  c aspects of community life   may be, it’s o  en very di   cult to   nd vol-  unteers willing to do their part. Among   the factors that in  uence volunteering for   board service are the time commitment   (real or perceived), discomfort with po-  tentially being the focus of resident anger   and antipathy, and plain old apathy.  On  the  other  hand,  for  those  who   overcome those obstacles and hesitations,   board service can provide a feeling of ac-  complishment, a level of prestige within   the community, and a way to have a per-  sonal hand in maintaining the security   and safety of what is likely their biggest     nancial investment.  The Value of Time  Board service is completely voluntary,   and the most common reason both co-op   shareholders and condominium owners   cite for not volunteering is lack of time.   It’s not hard to understand  why this is;   board and resident meetings are gener-  ally held in the evening, and while those   Condos and co-ops are unique in their management structure, of which there are two   levels: the board of the association or corporation, which governs the community on behalf   of the unit owners or shareholders, and a hired management agent, who conducts the day-  to-day a  airs of the property. Of course, some communities go their own way and choose to   self-manage, but they are the exception to the rule—particularly in communities larger than   20 units.      e question is, in professionally managed multifamily communities, how much respon-  sibility and authority does a board delegate to outside management, and how does that a  ect   how a given community functions?  The Spectrum  While each and every board is di  erent and has its own style, managers report there is a   ‘spectrum’ to board styles that ranges from minutely to barely involved. “   ere are two kinds   of boards,” says Dan Wollman, CEO of management   rm Gumley Ha  . “   ey can be auto-  cratic and dictatorial, or collaborative. In my experience, more are autocratic—and that has   to do with the fact that most owners are ambivalent and apathetic.    ey don’t actually want   to be on the board, which e  ectively leaves one or two active, engaged people on the board   to run the building.    is is very common. It’s simply the more pervasive style. Personally, I   When one buys a private single-fami-  ly home, it’s clear who the king or queen   of the castle is: the homeowner. When it   comes to condominiums and cooperative   apartments, however, the relationship   between owner and property is a little   more complex. While the shareholder or   unit owner rules within the walls of their   unit, everything beyond the drywall—  from the wiring and pipes in the walls   to  the  shared  common  areas  like  laun-  dry and fitness rooms, to the exterior   elements that hold the building together   and protect it from the elements—is gov-  erned by the community’s board under   the aegis of its governing documents,   which contain the rules and regulations   that cover a far-ranging variety of issues   and give the board authority over differ-  ent aspects of how the building or asso-  ciation is run. Governing documents are   themselves regulated by individual state   laws and statutes, and at times even local   ordinances.   The hybrid nature of ownership pre-  sented by condominium and cooperative   homes gives many owners and share-  holders a skewed or incomplete—and of-  ten incorrect—understanding of who is   responsible for what in their community.   This is partly because few purchasers   of condominium and cooperative units   ever really read the governing docu-  ments of the community they’re moving   into, and also partly because many are   coming from a rental environment and   wrongly see the association or corpora-  tion board as their landlord—which it   most certainly is not.  Board Style and   Management  Hands-on vs. Hands-o    BY COOPER SMITH   A Look at   Board Powers  What a Condo or Co-op   Board Is … and Isn’t  BY A. J. SIDRANSKY  Overcoming   Apathy  Getting Residents Interested   in Board Service  BY COOPER SMITH  continued on page 15   WEDNESDAY, MARCH 24, 10:00 AM – 4:00 PM FREE REGISTRATION: NYC.YREXPOS.COM  NEW YORK’S BIGGEST & BEST VIRTUAL CO-OP, CONDO & APT EXPO  continued on page 13 


































































































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