Category: Q&A

Q&A Q&A: Hot Under The Collar
2006 Sep Q&A: Hot Under The Collar

Q We moved into our Chelsea co-op last spring, and when the heating was turned on in the fall, we learned that the west wall fin tube radiation wasn’t working. This means that we have no heat in the bedroom and partial heat in the livin…

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Q&A Q&A: How Long To Approve
2006 Aug Q&A: How Long To Approve

Q I have a one-bedroom co-op in a six –story, 78-unit building in the Bronx on the market for $53,000 and have a prospective buyer who filled out the board application and provided the financial information required by the board. After …

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Q&A Q&A: Elevator Replacement
2006 Aug Q&A: Elevator Replacement

Q Our six-story Queens condo is considering replacing our elevator. We have stairs, obviously, but getting up and down six stories will be difficult for some of our older unit owners. What legal obligations do we have as the board to p…

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Q&A Q&A: Sponsor Conflict
2006 Aug Q&A: Sponsor Conflict

Q After serving on my board for the past two years as a vice president, I have now been elected president of my 83-unit Manhattan co-op. The equity sponsor (and 14 percent shareholder) has always been on the board, and for the last thre…

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Q&A Q&A: Board Trouble
2006 Aug Q&A: Board Trouble

Q We have only three board members in our building. The current board has been in place for about seven years, and our shareholders would like to remove them because they’re ineffective. They failed to replace a board member who resigne…

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Q&A Q&A: Washing Machine Woes
2006 Jul Q&A: Washing Machine Woes

Q I’m a resident co-op shareholder, and despite the clearly stated bylaw that washing machines and dryers are not allowed in my building, the resident board president living underneath me illegally has not one, but both appliances in h…

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Q&A Q&A: 80/20 Rule
2006 Jul Q&A: 80/20 Rule

Q I am the current board president of a 48-unit Housing Development Fund Corporation (HDFC) co-op located in Manhattan. Recently, in an effort to bolster operating income, without increasing maintenance assessments, previous boards had…

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Q&A Q&A: Voting Question
2006 Jul Q&A: Voting Question

Q Late last year, our board decided to make changes to our bylaws by an act of resolution; a move not authorized by our governing documents. A group of shareholders called a special meeting to oppose the changes, and they were voted on…

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Q&A Q&A: Too Powerful Prez?
2006 Jul Q&A: Too Powerful Prez?

Q I am on the board of my Ridgewood, Queens co-op, and I have a problem with our current board president. Without consulting the other board members, the president has cancelled our upcoming meeting, saying that there is ‘nothing on the…

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Q&A Q&A: A Fair Sublet Fee?
2006 Jun Q&A: A Fair Sublet Fee?

Q I’m curious! What is a fair sublet fee for a small Brooklyn co-op? Is it just a percentage of the maintenance, or decided upon by some other formula? —Brooklyn Shareholder A Michael Manzi, an attorney at Balber Picka…

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