“While co-op bylaws could theoretically vest shareholders with the right to attend interviews with representatives of potential management companies, such a scenario is incredibly unlikely. In fact, most co-op bylaws don’t even permit shareholders to attend board meetings. This being the case, th...
Rigorous application process:In addition to securing a specific type of financing, you’ll generally have to pass an interview with the board of directors to successfully buy into a co-op. The board will likely also require character references, and the application process can be quite intense. ...
For decades, the due diligence required for real estate transactions has fallen more to the seller than the buyer. Would the buyer qualify for the purchase? Would they pass the board interview? Co-op owners wishing to sell their units often lived in the shadow of requirements and approvals t...
Depending on the number of qualified bids, the board might interview all or only the top few. This allows the board and manager to get to know the people with whom they will be working. It also gives them an opportunity to ask questions or get clarification on aspects of the proposals th...
Professionals in some of the key fields of co-op and condo board governance and building management answer common questions in their areas of expertise Subscribe join now Got elected? Are you on your co-op/condo board? Then don’t miss a beat! Stories you can use to ma...
board meetings; while records of shareholder meetings must be kept and disclosed, the BCL makes no such requirement for the minutes taken during closed board meetings. However, this does not prevent the co-op's bylaws from requiring such minutes. More often than not, board meeting minutes ...
Repke goes on to suggest steps that an association’s board can take unilaterally to enhance security and safety in the community: “providing safety guidance to residents; creating phone trees or text and email alerts; inviting law enforcement authorities to speak to residents about home security...
Come join us each week for a different board game. If you have a favorite, you are welcome to bring it, and we will try to get around to playing it as well. 3-5 1st Period: 1. Literature Study: The Courage of Sarah Noble — Payne ...
• Interest in board or committee service • Data on the person or persons who will live in the unit One of the fundamental points to remember is that the application process should be split into several parts, the last being the interview. Do not interview so...
Maher says that the board president writes to residents when the budget is resolved—well in advance of the increase's start-date—and puts forth the proposed increase. Owners can ask questions about increases at annual meetings and through other channels. The Rockcliffe board also distributes a...