Co-op looking for a managing company

http://www.akam.com/

is a very good one, not sure of costs though..but very responsive and forward looking in terms of use of technology to make things easier/better

Thanks! akam has very mixed reviews on this board.

AKAM = UGH. We had them at our Upper East Side Co-op. Very unresponsive, sent the wrong set of forms on two occasions. The bigger problem was the idiotic co-op board, though, and arguably AKAM just reflected the insanity of our infighting building. We were so glad to get out of that co-op (we sold in January) we felt like kissing the ground.

No on MKI

Any thoughts on Vintage? They seem the best so far. I also spoke with Building Equity Mgmt but that guy seems way too expensive! Also what about ABS?

I would recommend Merlot Property Management on the UWS- they are based on the UWS and specialize in smaller/mid sized buildings.

Hi!I can recommend Fractal Property Management. We are a very reliable and friendly company and just started out so we still have the sense of close relation btw management and tenants/owners. Please feel free to contact us at jpaksai@fractal-management.com

Our mid-size building uses Hoffman Mgmt--they are extremely responsive and on-the-ball. Definitely recommend.

Dear Oddly Anonymous Fractal Lady--"Every detail counts" except the license?--- , WHERE IS YOUR BROKER's LICENSE? I can find no evidence that you have one, but you are "collecting rents" or at least offering to do so, for multiple clients, according to your website.

You can't collect rents without a broker's license unless you are a direct full time employee of the property owner.

If you want to be a "leader in the real estate industry" you had better get your license.

Co-op maintenance is RENT, it says this in most proprietary leases, which usually read, "paying rent (also called maintenance)" or similar language.

You cannot work as a general agent for multiple buildings and collect rents, which is what it looks like you're doing.

Any building that hires an UNLICENSED property manager takes on extra risk, totally unnecessarily. Things can go wrong with property managers and when they do, working with the Dept of State on license is extremely helpful.

Unlicensed property managers don't know as much. They don't know about Fair Housing Law, and if they make a mistake on that, the co-op board can be on the hook, owing to the idea of vicarious liability.

Use the DOS website to check if licensed:

http://www.dos.ny.gov/licensing/

Also, Fractal Property Management is not a corporation in NYS.

http://appext20.dos.ny.gov/corp_public/CORPSEARCH.ENTITY_SEARCH_ENTRY?p_entity_name=Fractal%20Property%20Management&p_name_type=A&p_search_type=BEGINS

So, registered in another state? A sole proprietor DBA?

Inquiring minds want to know.

Dear Flutistic,
We are working with Brokerage firms in the renting process which doesn't give the landlord/owner any disadvantage. I can assure you that all of our client is satisfied and absolutely aware of our capability.
I do appreciate your elaborateness and I wish you a nice afternoon!

Dear Anonymous Fractal Lady, who is collecting rents? If it's you, and you don't have a broker's license, then you are breaking the law. Misdemeanor crime up to 1 year in jail. You had better stick to maintenance/janitorial and keep your hands off of other people's money.

http://fractalmgmt.squarespace.com/servicesforbuildingowners/

Here you go:

http://www.dos.ny.gov/licensing/re_salesperson/re_sales_broker_faq.html#9

I'd report you to the Department of State, but I don't want to wear out my welcome.

Dear Flustistic,I am not collecting any rent. Thank you for your concerns.

Dear Flustistic,I am not collecting any rent in the moment but you are right, this is our long term plan. Thank you for your concerns.