Think you don’t need the services of that 24-hour doorman in your co-op anymore? Better check with the rent stabilized tenants with whom you share the building. Chances are their leases provide protection against the elimination of building…
Building house rules are the "Thou shalt not’s" of the co-op and condo world. Unlike the proprietary lease or bylaws, which cover operational and administrative matters, the house rules cover behavior of the residents–you know, the types of…
Many New York City co-ops have garages leased to the sponsor dating back to the co-op’s conversion. Though these garages, described by one judge as "a veritable gold-mine," throw off riches mostly to the sponsor, a little-known federal stat…
In today’s booming real estate market everyone is looking to turn a profit. Should co-op shareholders be any different? Everyone wants a piece of the pie but at what cost? Subletting cooperative apartments can be very simple if you follow t…
Co-ops have to be vigilant and address defaults due to nonpayment, objectionable conduct, illegal sublets, bank foreclosures and below market resales, and shareholders declaring bankruptcy. Some proprietary leases and bylaws appear to give …
New York, my old home state, presently litigates all co-op and condo disputes. Litigation, however, continually proves to be an expensive and time-consuming endeavor. Perhaps it’s time for New York to consider compulsory mediation-arbitrati…
As we enter the 21st Century, issues of equality continue to be a problem in the United States. As such, government has created a complex set of laws to protect people from discrimination, but the problem has still not gone away. The respon…
Last month, the New York Association of Realty Managers (NYARM) hosted a seminar on a somewhat new phenomenon known as "NORCs." Short for "Naturally Occuring Retirement Communities," the acronym has come to mean much to many seniors through…
Over two decades ago, an amendment to the New York City Civil Court Act transferred enforcement proceedings connected with housing to the Civil Court. This amendment established what we now know as housing court, where residential landlord …
Annual shareholders’ meetings are in our midst. It takes a lot for a board to prepare for the spring occasion, but if thoughtfully planned by a building’s board and managing agent, it can become a successful forum for board elections, the d…