Hi All, I'm a shareholder at an HDFC coop. The roof is old and the board (both old and new) have been talking about repairing it for about 3 years now. I live on the top floor and it's been acknowledged by the board that the leak is worst in my apartment. There is a hole in my ceiling from the plaster that has fallen down from being over-saturated. The building is not in a great situation... [more]
Hi All,
I'm a shareholder at an HDFC coop. The roof is old and the board (both old and new) have been talking about repairing it for about 3 years now. I live on the top floor and it's been acknowledged by the board that the leak is worst in my apartment. There is a hole in my ceiling from the plaster that has fallen down from being over-saturated. The building is not in a great situation financially, but I do not feel they are doing their best to rectify the situation and raise the necessary funds to do the replacement. I have been told for two + years that the roof will be fixed, but nothing. There is also asbestos on the roof that has to be abated. I am going to be having a baby in a few months and I think it's absolutely ridiculous that I have to live in a situation that there is a hole in my ceiling, plaster falling down and asbestos on the roof. Unlike about 25% of the other shareholders, I pay my maintenance on time, and have been patient through this process. My question then is, do I have any recourse? If so, is there anyone you would recommend I speak to?
thanks!
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Response by NYCNovice
over 10 years ago
Posts: 1006
Member since: Jan 2012
I do not know how the situation in this linked thread was resolved or even it was resolved, but the poster therein had a similar problem, and I believe she recommended the attorney with whom she discussed her situation.
http://streeteasy.com/talk/discussion/32970-lost-in-nyc-coop-world
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Response by roseslg
over 10 years ago
Posts: 32
Member since: Aug 2011
Thanks! I'll look into it. To make matters worse, I am currently on the board! I don't know if there are any conflict of interest issues that would arise. As a board member, I don't think some of the others are doing whatever it is necessary to make sure the funds are raised to replace the roof. I am the only one on the board who is directly affected by the leak. My first thought was to tell the current president that I will be speaking to a lawyer soon. Hopefully that will be a wake up call to the other board members.
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Response by NYCNovice
over 10 years ago
Posts: 1006
Member since: Jan 2012
I cannot imagine there is any issue involving NY real estate that has not been discussed in previous SE Discussions. This linked thread appears to have been started by another individual who was contemplating legal action against a building where he was also a board member.
http://streeteasy.com/talk/discussion/39352-on-the-board-for-a-bulding-you-sue
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Response by NWT
over 10 years ago
Posts: 6643
Member since: Sep 2008
You could start by calling 311 to have the DoB come see the hole in your ceiling, with water coming in. They'll fine the co-op and keep fining it until the roof is fixed.
If the co-op doesn't have the money in its reserve fund to replace the roof, then it has to either borrow the money or assess the shareholders. Your fellow board members don't want to do either one. There're several government agencies that get involved in helping HDFCs buy/repair/maintain their buildings. Just google around.
Don't worry about a conflict of interest. A board member is as entitled to a habitable apartment as any other shareholder.
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Response by miker430
over 10 years ago
Posts: 51
Member since: Nov 2012
If you are on the board how can you not know whats going on. You know how much money is in the bank if that's the reason. Leaks and roof issues do not get better only worse and more expensive. The board has a fiduciary responsibility to take care of it. What does the managing agent say?
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I do not know how the situation in this linked thread was resolved or even it was resolved, but the poster therein had a similar problem, and I believe she recommended the attorney with whom she discussed her situation.
http://streeteasy.com/talk/discussion/32970-lost-in-nyc-coop-world
Thanks! I'll look into it. To make matters worse, I am currently on the board! I don't know if there are any conflict of interest issues that would arise. As a board member, I don't think some of the others are doing whatever it is necessary to make sure the funds are raised to replace the roof. I am the only one on the board who is directly affected by the leak. My first thought was to tell the current president that I will be speaking to a lawyer soon. Hopefully that will be a wake up call to the other board members.
I cannot imagine there is any issue involving NY real estate that has not been discussed in previous SE Discussions. This linked thread appears to have been started by another individual who was contemplating legal action against a building where he was also a board member.
http://streeteasy.com/talk/discussion/39352-on-the-board-for-a-bulding-you-sue
You could start by calling 311 to have the DoB come see the hole in your ceiling, with water coming in. They'll fine the co-op and keep fining it until the roof is fixed.
If the co-op doesn't have the money in its reserve fund to replace the roof, then it has to either borrow the money or assess the shareholders. Your fellow board members don't want to do either one. There're several government agencies that get involved in helping HDFCs buy/repair/maintain their buildings. Just google around.
Don't worry about a conflict of interest. A board member is as entitled to a habitable apartment as any other shareholder.
If you are on the board how can you not know whats going on. You know how much money is in the bank if that's the reason. Leaks and roof issues do not get better only worse and more expensive. The board has a fiduciary responsibility to take care of it. What does the managing agent say?