Ep. 35 - Another Review Of Co-op & Condo Questions

Another analysis of frequently-asked questions from Boards of Directors of Co-ops and Condos on Co-op and Condo Procedures was the topic of this segment of “BuildingKnowledge With The Building and Realty Institute (BRI).” The questions for this episode are from inquiries that the Cooperative and Condominium Advisory Council (CCAC) of The Building and Realty Institute (BRI) receives on a regular basis. The topic was featured on Episode Five of our series. That episode received positive responses and produced requests for this segment. Daniel Finger, Esq., an attorney with Finger and Finger, A Professional Corporation, was the guest for this episode. Daniel Finger was a regular guest on the former radio shows of the Building and Realty Institute (BRI). He was also the guest on Episode Five of our series. This segment provided answers to a series of complex questions, including: 1) How fines can be used by a Co-op’s Board of Directors to enforce House Rules and to address violations of the Proprietary Lease; 2) What Boards of Directors of Condos can do regarding fines to enforce House Rules; 3) Can Boards of Directors of Co-ops and Condos ban E-Bikes at their respective properties due to concerns over fire hazards?; 4) A member of a Board of Directors of a Co-op or Condo suddenly resigns - does the Board have to replace the member immediately?; 5) The Board of Directors of a Co-op or Condo has to raise its Monthly Maintenance Payments (for Co-ops), or its Common Charges (for Condos). What are the best methods to do that?; 6) A Board of Directors of a Co-op or Condo receives complaints about a noisy neighbor. What should the Board do;? 7) A Co-op or Condo Board would like to declare its building, or complex, as “A Smoke-Free Building/Complex.” How does that happen?; 8) The Corporate Transparency Act and how it affects  Co-ops and Condos.