1995 Oct
Focus on... Board Operations

Board Operations Welcome Aboard. . .Now What?
1995 Oct Welcome Aboard. . .Now What?

Tom Marcossan laughs when he remembers joining the board as treasurer when his building went co-op in 1986. "I was stupid. I didn't read the magazines available or take advantage of any organizations out there. We were the first board the b…

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Board Operations Honest Board Elections
1995 Oct Honest Board Elections

Imagine that your building's sponsor has planted a friend or business partner in one of the units he owns in the building. This shareholder then decides to run for a seat on the board and with the help of the sponsor, wins. In addition t…

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Board Operations Limiting Sponsor Power
1995 Oct Limiting Sponsor Power

All too often boards of co-ops and condos find themselves at the mercy of the conversion sponsor. Wielding his influence over the building and all its affairs, the sponsor's goals are frequently in contrast with those of the board and build…

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Management Considering Self-Management?
1995 Oct Considering Self-Management?

A co-op or condo that embarks upon the road to self-management is committed to undertaking the supervision and administration of the building without the assistance of an outside full-service property management firm. There are, however, va…

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Buying & Selling How Low Can You Go?
1995 Oct How Low Can You Go?

In June 1992, the board of directors of a 160-unit co-op in Port Chester, New York made the same decision that countless boards have made before and since: They rejected the proposed sale of an apartment within their property. However, in…

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Buying & Selling Deciding on a Broker
1995 Oct Deciding on a Broker

Unlike most places in America, Manhattan does not have a multiple listing service, a directory that outlines all the properties currently for sale in a given region. Instead, New Yorkers rely on real estate brokers to get the word out that …

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Law & Legislation Change is Good!
1995 Oct Change is Good!

Times change and your building's house rules should change along with them. A decade may have passed since your house rules were first written or last updated. In that time, the City has passed stringent new anti-smoking and recycling law…

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