There is a broad degree of disparity among private homeowners and cooperators who individually own their homes when it comes to taxation. The issue is a never-ending one, that, according to many legislators is an irresolvable one.
Read moreOne of the most important responsibilities of any co-op board is the establishment and maintenance of sound fiscal policies and procedures that will protect their shareholders, provide for the continuity of the property and protect the Board of Directors and its individual Board members from any financial miscues.
Read moreMost cooperative corporations require a prospective purchaser to submit an application and various supporting documents containing personal and confidential information concerning an applicant’s history and finances. The Board of Directors may also require one or more personal interviews with the prospective purchaser. The handling of this application and interview process may be subject to scrutiny and claims of unlawful discrimination. The Council of New York Cooperatives has published an easy reference guide to help Boards of Directors stay within the law. Click here for a “Co-op Board Admissions Guide”.
Read moreIs your Board of Directors or your building manager considering Selecting a Contractor?
Find out some of the best advice when seeking someone to work for your building.
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