Beyond being the locus for disputes between neighbors, as housing providers and (in many cases) employers, condominiums, housing associations, and co-ops can find themselves in the middle of costly discrimination or harassment suits. And with their representative governance structure of a micro–democ...
Board Demographics Volunteerism is arguably the bedrock of co-op and condominium communities. One buys into one or the other with the expectation of participating in the governance and operation of the property. Volunteering for board or committee service, though, is often a matter of time – som...
The bylaws are the equivalent of the Constitution for a co-op or condo—the papers signed by the founders of the building. That document “talks a lot about governance,” explains Brendan Keany, General Manager of Penn South, a large co-op community in New York City. “It talks a lot ...
“Finally,” Fleiss continues, “effective board members respect the views of experts regarding matters within those experts’ fields. Few board members – even long-serving ones – can master all of the details of the many subjects with which they must deal. That’s why boards retain architect...
dominant real estate developer most admired for its world-class landmark projects, excellent services, and highly regarded by its peers and partners. It is an employer of choice known for its highly capable team and outstanding innovations. It practices good governance and corporate social ...
When it comes to decision-making in your building, attending meetings in person is always best. But should the need arise, shareholders and unit owners are permitted to vote in board elections and other matters of corporate governance by proxy or absentee ballot. Proxies are a valuable part of...
The Business Judgment Rule The legal principle from which board power and governance emanate is known as the business judgment rule (BJR). In its most simple form, the BJR affords board members the right to make decisions on behalf of their community based on sound decision-making and facts,...
If you live in a condominium, cooperative or HOA, you’re participating in a small-scale democracy run by an elected group of volunteers. As in any democracy, those affected by the board’s decisions are encouraged to get involved in the process of governance to look out for the best inte...
Note: The STAR abatement goes with the unit, so if you moved, it applies to the next owner. STAR also applies to primary residences only, so if you're subletting your co-op and living and voting in Florida, you can’t claim the rebate. ...
When discussing condominium deconversions or condominium terminations, it is important to understand the full picture. A board must address a myriad of important governance issues including written objections, unpaid assessments, informational meetings, contract distribution, and voting. ...