"However, I quickly realized that the $250 a month that my condo board charged me for the pleasure of being under their management was drastically overpriced. Sure, they cut the grass and kept the outside of the condo looking nice, but they were not responsible for anything inside the cond...
In such cases, he says, “the cooperative’s board should intervene—but not over-intervene. If a board overreaches, the shareholders or residents may assert that the board acted outside the scope of its authority. It is a delicate balancing act that each board and all [managing] agents m...
known as the cooperative. Instead of a 100-unit residential building being subdivided into 100 individual condo units owned infee simple, the building transfers ownership of the entire building to a cooperative corporation. Residents are offered shares in the cooperative corporation along...
Morris Plains, NJ - The Venue at the American is a collection of townhomes and condominiums in a 55+ Active Adult community with resort-style amenities.
Insure against fraud. Most community policies stipulate that their managing agent have insurance against fraud - so double check to make sure you’re covered. Additionally, arrange for the building to be named on the policy as an additional insured. That way, if management does perpetrate fraud,...