Bruce Cholst quoted in Tina Larsson’s New Book for Co-op and Condo Owners
Herrick Litigation Department partner, Bruce Cholst, was quoted in Tina Larsson's new book entitled Living the High Life - How Smart Co-Op and Condo Owners Protect Themselves and Their Investment. The topics discussed in this book encompass common problems and solutions that New York City co-op and condo owners face.
One matter that the book discusses is an issue that came up between a co-op owner and her co-op board. The owner of the co-op was sent a letter from her co-op board's attorney that stated the board would revoke her proprietary lease if she did not remove the furniture and planters she had on her terrace. Something that the property manager had stated was a common practice.
Bruce noted, "The unilateral revocation of a proprietary lease by a co-op or condo board without any prior attempt at an amicable resolution of the dispute is not common practice."
Bruce added, "As a board member, it's your job to know what is in the governing documents, and it's your job to make sure they reflect the needs and wishes of the owners. If residents violate the rules, don't threaten them-- just have a conversation with them." He advised, "If you need to escalate to the property manager or resident manager, do that. And if a rule isn't working for a large number of residents you may need to revise it."