As the resale value and demand for cooperative apartments increase and the supply of available units decreases, purchasers are facing denials for admission to co-op buildings in record number. There was a time when many co-op boards concl…
Two weeks after Angel Agostino renewed her small insurance policy with Ron Tepperman, Inc., a base- ment fire caused her apartment to burn down and she lost everything. I got insurance because I thought the roof would leak, Agostino expla…
When it comes to decision-making in your building, attending meetings in person is always best. But should the need arise, shareholders and unit owners are permitted to vote in board elections and other matters of corporate governance by pr…
Maintaining authority over sales by estates has become a difficult challenge for co-op boards of directors. It is essential for co-ops to be reasonably assured that future maintenance payments will be made and that they will be able to c…
Sensible people routinely have life insurance, disability insurance, car insurance and homeowners insurance, but few think about getting marriage dissolution insurance or living together and breaking up insurance. Many individuals planni…
When it comes to key security, most co-op shareholders and other tenants have no choice but to trust in their building manager. That's because New York state law requires tenants to provide landlords with duplicate keys, if requested. Wheth…
Lucky are the board members of co-ops and condos who are able to play a purely supervisory role, simplyoverseeing the work of the managing agent who has the serious job of taking care of the building. In the vast majority of cases, however,…
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…
In the 1980s, at the height of the conversion movement, many New Yorkers were thrilled because they were able to buy apartments at a great insider's price. But, for some, the dream of owning their own home turned sour. Imagine learning tha…
Several years ago, before relocating to Westchester County, I served as board president at my 112-unit co-op building in Manhattan. Like most co-ops, we had a history of occasional disputes between tenants and among board members. But, by u…