Should We Oust Our Co-op Managing Agent and Find Another?

0
229
Should We Oust Our Co-op Managing Agent and Find Another?

Q. I live in a large co-op building in the West Village. Our central air conditioning system was broken and was shut off by building management on 22 different days this summer. We barely got any notice – one day management gave us a 30 minute warning. Then, in early September, they permanently shut down the air conditioning due to damage to the cooling system, despite the high heat and humidity in the following days. Is there a way to hire a new management company or are there other measures we can take? We pay a high monthly maintenance fee and this has been very frustrating.

A: Is the cooperative’s management company – also called the managing agent – ​​aware of the problem and is it being addressed? If not, the cooperative’s board should respond to shareholder complaints and take action.

“There needs to be transparency on the part of the co-op board and the managing agent as to why service was poor throughout the summer,” said Debra J. Guzov, a real estate attorney in Manhattan. “If there is a problem, the board has a duty to shareholders to address that problem.”

The managing director is hired by the cooperative’s board of directors and usually appoints an account manager to handle the cooperative’s business at the direction of the board. Your manager should hire a technician or a reputable heating and cooling company to inspect the air conditioner and identify the problem.

In the meantime, you should take a look at the cooperative’s lease, bylaws, and house rules to see if they list dates when shareholders should expect the air conditioning to be active. This information can strengthen your approach to the board.

If the board is dissatisfied with the managing agent, they can request a different account manager for the building or even terminate the managing agent’s contract and hire another company. “Finding the right real estate agent and assigned property manager is always a challenge,” said Ronald H.rid, a real estate attorney who focuses on co-ops and condominiums. “If a service provider doesn’t do their job properly, things will never get better.”

However, the managing agent may not be the problem. The building may not have enough funds to conduct surveys and make necessary repairs. “Ultimately, many of these issues are related to maintenance and there are budgetary concerns,” Ms. Guzov said.

For weekly email updates on residential real estate news, sign up here.