Category: Q&A

Q&A Q&A: Vendors Only Policy
2007 Jan Q&A: Vendors Only Policy

I currently run my family’s construction business and have been doing so since I left management business over four years ago. Recently, I was asked to renovate an apartment for a client in a luxurious East Side apartment building. The b…

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Q&A Q&A: Whose Cable Now?
2006 Nov Q&A: Whose Cable Now?

Q Our building is seriously considering replacing our present cable television with a satellite dish system. Cablevision installed TV cables and equipment in our hi-rise residential condo building several years ago, and has continued to…

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Q&A Q&A: Family Trust
2006 Nov Q&A: Family Trust

Q My parents are both in their seventies and have begun setting their financial affairs in order. They have put whatever assets they own, such as cars, stocks and bonds, into their family trust in order to simplify their estate and avoi…

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Q&A Q&A: To Flip, or Not to Flip the Tax
2006 Nov Q&A: To Flip, or Not to Flip the Tax

Q Our 60-unit, self-managed co-op changed its bylaws about ten years ago to allow parents to sublet from their children and vice versa. The bylaws were changed with the condition that the flip tax would continue with any transfer of the…

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Q&A Q&A: Sole Access, Sole Responsibility!
2006 Nov Q&A: Sole Access, Sole Responsibility!

Q I live in an older co-op that has eight large roof-terraces from 300 to 500 square feet. We have experienced leaks emanating from these terraces, over the years, to the apartments below. No one is able to use the terraces except the …

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Q&A Q&A: Surpassing the Shareholders?
2006 Oct Q&A: Surpassing the Shareholders?

Q Several others and I are shareholders in a co-op on the East Side of Manhattan. Our board and management company are putting through Local Law 11 repairs. This is not a problem. However, they have refused for any of the shareholders t…

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Q&A Q&A: A Receipt for Maintenance
2006 Oct Q&A: A Receipt for Maintenance

Q Do we, as a co-op collecting maintenance, need to comply with a shareholder’s written request, pursuant to RPL: Article 7 Section 235-e for written receipts for maintenance paid by personal check? Does this section even apply to maint…

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Q&A Q&A: Lethal Airborne Waste?
2006 Oct Q&A: Lethal Airborne Waste?

Q I live in a large co-op on the Upper East Side which consists of 300 units. Six residents on the second floor, including myself, have terraces. Over the years large quantities of various items have come out of the windows above us and…

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Q&A Q&A: Closing Question
2006 Oct Q&A: Closing Question

Q I have an accepted offer on a condo in Manhattan, and I have a letter of commitment from my lender. Before proceeding to submit my application to the board, I was instructed by the managing agency that submission of tax returns, payr…

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Q&A Q&A: One Good Reason
2006 Oct Q&A: One Good Reason

Q When an applicant applies to buy into a co-op and pays the high application fee, yet is denied by the board, shouldn’t they be given a reason why they were rejected? I feel strongly that the board is wrong in turning someone away with…

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