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The board did not request it in the package. Should it be included anyway to describe the applicant? Also can it hurt? How is the package suppose to be presented? with dividers? collated into a little book? with table of contents? I have not seen this discussed in detail on this board yet.
Thank you for your help
If the board didn't request it, it's not required. But it's certainly nice and sets the stage for those of us who are just sitting down to consider the inch-thick volume. Like a cover letter for a resume, it adds a nice finishing polish to the package.
I included a cover letter and used tabs to divid it. I forget how we bound it but nothing fancy - something from staples. Our cover letter included everything important that we wanted to stress (including important financials). Most boards haven't a clue what they are looking at and are just bored/loser/powerhungry. So stroke them a bit, let them be their lazy selves and you'll be fine.
You are investing a significant amount of time to prepare a package for a major decision which hinges upon the permission of others; of course you should spend a few more minutes and write a cover letter. It adds a small touch of personality to the process. You should explain that you are excited about the prospective apartment/building and thank the board for their time in reviewing your package. Keep it positive, brief, and sane.
Actually most of the package letters I've seen were written by the buyer's agent.
Yes, they should absolutely write one, too.
IMHO - I wouldnt waste your time putting them in nice little binders, with special tabs, cover pages, etc. I will never forget I did that for my first co-op apartment; spent hours doing it. I got to the interview and I saw the board members had all my paperwork removed from the binders and just clipped together in the upper left hand corner with a big binder clip. I found out the managing agent just pulls them all apart and puts them in manilla envelopes for the board members.
I wouldn't waste my time creating binders, tabs either. That's part of the agent's job.
The managing agent will give you a package sheet saying exactly what's required and how to organize it. They may or may not want it all nicely assembled.
Our agent prepared our board application, which was spiral bound with tabs and included a cover letter. I produced whatever the board requested and she compiled it and pulled together the presentation.
Thank you all for the replies. The only request is that the package be presented collated. Can the buyer write the cover letter directly since there is no buyer's broker?
When addressing financials would you recommend offering to put money into escrow, lets say for 3 year maintenance?
Of course you can write your own cover letter. I would echo the previous advice to keep it short, if you do write one at all. I'm not convinced that providing more than what is asked is helpful.
Similarly, I would not offer to put maintenance into escrow. If the board wants you to do that, they can make the request.
Is there a seller's broker? If so, you may want that person to review the package before it is submitted.
flarf thank you
We wrote our own letter.
The organization of the board packet is your initial/first impression with the board. A nice cover letter would be fantastic. Something simple, concise and complimentary of the apartment/building. In terms of addressing your financials, it really depends on where you fall within the requirements of the board. I'm happy to take a look at what you have, give you a sample cover letter, or speak with you briefly about suggestions on how to best present your materials. Feel free to shoot me an email.