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Law & Legislation What Happens When a Board Goes Too Far?
2008 June What Happens When a Board Goes Too Far?

Co-op and condo owners often complain that their board doesn’t do enough, or that the board members aren’t involved as much as they would like in the administration and maintenance of their building. While a disinterested or apathetic board…

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Law & Legislation Comparing Apples to Oranges?
2008 June Comparing Apples to Oranges?

Co-op apartment buildings were originally formed in New York City to allow building residents to buy into and have a say in how their building was administered, as well as who their neighbors were, and what those neighbors were allowed t…

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Law & Legislation It's a Dog's Life
2008 June It's a Dog's Life

Daisy Okas works for the American Kennel Club and obviously loves dogs, so when she was looking for an apartment for herself and Olive, her six-year-old beagle, there was no negotiation—she had to live in a pet-friendly building. Wh…

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Q&A Q&A: Fair Election
2008 May Q&A: Fair Election

Q One of our board members has been president for many years. She runs the building on a unilateral basis, giving out very little information about the business of the condo. Unit owners have little influence because the she is elected by…

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Q&A Q&A: Opting Out
2008 May Q&A: Opting Out

Q I live in a Mitchell Lama co-op which is starting the process of privatization. We have a very large mortgage that has many years to go until it is paid off. We also have a large reserve fund for various contingencies. At a meeting r…

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Q&A Q&A: Withholding Taxes for Employee Gifts
2008 May Q&A: Withholding Taxes for Employee Gifts

Q Our condo gives out gifts (in monetary form) to the employees of the building. The gifts go through the president of the board first. The president has created a separate bank account for employee gifts. Is this breaking any laws? Shoul…

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Design Managing Change, Protecting Investments
2008 May Managing Change, Protecting Investments

New Yorkers live in an ever-changing city that’s been building and rebuilding continuously since its inception. Today, throughout the five boroughs, according to the New York City Department of Buildings (DOB), there are more than 950,00…

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Finance Take Advantage of 1031 Exchanges
2008 May Take Advantage of 1031 Exchanges

The “Green Movement” has quickly gone from fad to trend to global initiative. In the U.S., corporations as well as commercial and residential property owners are being challenged to find ways to embrace ‘Green Initiatives’ in response to…

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