New York's Cooperative and Condominium Community

Habitat Magazine Insider Guide

HABITAT

BOARD OPERATIONS


HOW CO-OP/CONDO BOARDS OPERATE

How do NYC co-ops and condos operate? Governed by an elected board of directors, these housing corporations are like mini-cities with their own bylaws and governing documents. Here you'll find articles on a wide range of topics that co-op and condo board directors need to understand to govern their housing corporation wisely. 

Co-op apartment sellers can challenge improperly implemented flip taxes.

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Aggrieved shareholder has limited options in a co-op without a smoke-free policy.

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Failure to provide accommodations can result in legal action and financial penalties.

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The Habitat Group wishes our readers a safe and happy Memorial Day 2024.

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The board can amend the lease to include late fees and seek possession in housing court.

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For Financial Stability, Co-op Boards Must Swiftly Address Delinquent Shareholders

Written by Carolyn Rualo, Partner, Adam Leitman Bailey, P.C. on May 16, 2024

New York City

Co-op boards must strategically approach maintenance arrears by familiarizing themselves with the proprietary lease terms, collaborating with legal counsel, and taking timely actions to uphold the financial integrity of the co-op.

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License Agreement Essential for Facade Repairs and Building Renovations

Written by Gerard S. Strain, Partner, Goetz Fitzpatrick on May 09, 2024

New York City

Access to neighboring buildings for facade repairs and other renovations requires a license agreement, which includes architectural and engineering plans, a noise mitigation plan, and a license fee, with fees being reasonable and proportional to the complexity of the project.

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The business judgment rule gives boards broad powers — if they act in good faith.

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Understanding Fiduciary Duty For Co-op and Condo Board Directors

Written by Mark L. Hankin, Partner, Hankin & Mazel on April 24, 2024

New York City

New board directors often underestimate the scope of their responsibilities when they assume their roles, including the financial complexities and legal constraints of managing a co-op or condo, the importance of a code of ethics, the need to declare conflicts of interest, and the importance of reading the bylaws and governing documents.

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There are limits to the reasonable accommodations co-op and condo boards must make.

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Ask the Experts

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Learn all the basics of NYC co-op and condo management, with straight talk from heavy hitters in the field of co-op or condo apartments

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

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