Can Coops Pay Dividends?

uhm the article explains it....eg the 80-20 rule.
No paying out dividend doesn't change a co-ops status.

A better question: How to find such gems before everyone else does?

a coop is a cooperation that can a pay a dividend if it wishes.

Those of you who live in co-ops that have parking lots: do specific units have parking spaces assigned to them, with other units not having spaces, or are there X units and Y spaces with all owners possessing Y÷X spaces? My building is the latter type, with 27 units sharing 10 spaces, and the people who want parking rent the spaces with all the owners sharing in the revenue.

(This year we only filled three of the spaces, which was barely enough to pay the property tax on the land.)

Hate to say it triplezero, but you are living in a world completely different than NY, where parking spaces sell for >>>$60,000+++ and a space for rent would go in a heartbeat.

I accidentally fell into this situation.
I bought 2 years ago, the 80/20 rules changed @ 2008 but the store in my building has a 40 year sweatheart lease.
It's a horrible lease but it's in year 32 and in 8 years we'll be at market rent for the store, likely living maintenance/tax free.

ads, this article explains the 80/20 change pretty well
http://www.nytimes.com/2008/01/20/realestate/20cov.html?_r=2&ref=realestate

PH41, $60k sounds about right considering what spaces rent for in my building: the equivalent of $300 per month. It used to be *impossible* to find a space in Tokyo for that little, but not anymore. We can't lower the price because we're not sure if we could find additional space-renters in the building and might just end up losing more money. My building is all youngish (under 40) and elderly (60+), with almost nobody in the prime car-owning 40s/50s ages. (Anyone who became an adult after the infamous Japanese bubble burst around 1990 thinks of a car as a wasteful white elephant, and the elderly can no longer drive safely.)

Incidentally, there's some kind of insurance problem that prevents non-residents from renting spaces. One of the ongoing issues for the condo board is how to resolve this. We *really* want to fill those spaces and keep raking in the cash.

Now here's the "completely different from NYC" part: property tax on each apartment, about 400 square feet, is $240 per *year* and is easily paid off from parking lot dividends!

http://www.nytimes.com/2013/04/14/realestate/the-maintenance-free-co-op-now-less-elusive.html

How funny!