Ep. 64 - Guidelines for Boards of Co-ops & Condos on Their Annual Meetings

This episode of “Building Knowledge With The Building and Realty Institute (BRI)” reviewed how Boards of Directors of Co-ops and Condos should prepare for - and conduct – their respective Annual Meetings. Our guest was David Amster, Chairman of The Advisory Council of Managing Agents (ACMA) of The Building and Realty Institute (BRI), which is known as “ACMA.” ACMA is an affiliate association of the BRI and is composed of some of the largest property management companies in the New York metropolitan area. David Amster was a regular guest on the former radio shows of the BRI. This episode marked his second appearance on “Building Knowledge.” Topics covered during the segment included: 1) An explanation on the purpose of Annual Meetings for Co-ops and Condos; 2) The first steps that Boards of Directors of Co-ops and Condos should take in preparing for Annual Meetings; 3) The typical Notification Periods for Annual Meetings to Shareholders and Unit Owners; 4) How the Proxy Process for Annual Meetings works; 5) How a typical Annual Meeting should begin; 6) The importance of having consultants for buildings at Annual Meetings; 7) The need for Board Members to prepare for Annual Meetings by reviewing each other’s committee reports and the building’s budget (so that they can discuss the documents at the Annual Meeting); 8) The importance of boards following the procedures for Annual Meetings that are set forth in the By-Laws of their buildings. The episode also featured a tribute to the late Leah Caro, a well-known Realtor in the New York metropolitan area. Leah Caro was a regular guest on “Building Knowledge,” as well as on the former radio shows of the BRI. She was the BRI’s “go-to source” on its programs for evaluations of the real estate markets of the New York metro area.