Nov. 9th, New York City
Educational / Social
A New York City combo educational and social event in one of the city’s most luxurious residential buildings. Attend our educational session and then enjoy some drinks and refreshments while taking a tour of the penthouse.
Educational & Social Event
November 9th, 3:00pm – 7:00pm
EDUCATION – 5 great sessions & topics
NETWORKING
A tour of some of the Sutton’s luxurious
residential units.
EDUCATION DETAILS
3:00 – 3:45pm
Fiduciary Issues
Legal and financial issues which are affected by Board Members’ fiduciary duties: What is the standard of review of board decisions; things a Board Member should to do to avoid breaching his/her fiduciary duty; does the Board owe a fiduciary duty to purchasers; the effect of a board member’s fiduciary duty on accounting issues, such as proper budgeting, instituting maintenance increases, contract bidding and related items.
- What kind of restrictions can boards put into place in regard to short-term renters?
- What’s the difference between an owner who is renting their unit for night and a hotel?
- How can boards determine whether or not a “guest” is indeed really a AirBNB lessee?
- Do boards have the right to contact “guests” directly to determine if they are indeed really guests or paying AirBNB lessees?
- Are boards allowed to monitor the AirBNB site in order to catch offending leasers?
- Can boards limit how many guests a resident may have over a certain time period?
- Can board speci cally deny residents from advertising their residences on the AirBNB site?
- How does AirBNB differ from residents who desire roommates?
Steven Lasser, The Lasser Law Firm
4:20 – 4:25pm – Break
4:25 – 5:10pm
Insurance & Loans: Too Much, Too Little and Just Right
Don’t be caught unprepared if your building requires a loan for major capital improvement or other issues. Understand in advance how you as a board member are covered by insurance and what you’re covered for.
Two major topics for both condominiums and cooperative boards. How to determine if your condominium has too much or too little of either insurance or loans.
• The difference between a loan and a line of credit.
• The role of vacancies in loans.
• The best way to get approved (or rejected) for a loan.
• Fannie Mae requirements and their role in loan approval.
• What every board member should know to help protect their association, building and the residents.
• The association’s responsibility vs. the owner’s responsibility
• The liability of contractor’s actions and how associations can protect themselves.
• How to make sure that board members and their legal costs are suf ciently covered by D&O Insurance and when your D&O will not cover you.
• Learn what is and is not covered by Umbrella Insurance.
• Learn whether or not the condominium is covered if a board member commits a crime or acts scally irresponsibly.
• Understand how proper accounting processes can determine whether or not your condominium is reimbursed by insurance in regards to a board member, manager or employee theft.
Speaker
Jared Tunnell, National Cooperative Bank
Ed Mackoul, Mackoul & Associates Inc.
5:10 – 5:15pm – Break
5:15 – 5:35pm
Restoration and Emergency Plans
You’ve had a fire, weather issue or water damage that requires emergency action. Some of residents cannot return to their units. The building is open to the elements and future damage. The process of working with a restoration company and how having an emergency plan in place can make all the difference.
Speaker
Julie Nole, Professional Restoration Services
5:35 – 5:40pm – Break
5:40 – 6:25pm
Smoky, Smelly and Noisy Neighbors What can the Board and Management Do?
Secondhand smells coming from apartments, including pets, cooking, cigarettes, renovations and garbage, can make their way around your building and invade other residents’ units. Add in some noisy music, tap-dancing or even loud conversations and you can find your board and management in a challenging position. It can be a difficult process for boards and management to navigate how, when and when not to approach residents in what could be very personal matters in order to maintain a quality of life for all residents. Learn the ins and outs so you don’t find your board and management having a claim filed against them by either those raising the issue or those suspected of creating unacceptable smells or noises.
What constitutes an unacceptable smell or noise?
How noisy is too noisy?
Can boards restrict the activities of residents at certain times of day or night in order to control noise?
How do the building’s legal documents address these issues?
What are the city and state laws addressing these issues?
When should the police get involved?
Should the board deal with an owner and renter differently?
What are the repercussions for a board that does not take action?
How should the board respond to smells caused by a resident with a health issue?
What action should a board take when they suspect an odor is coming from an apartment but do not know for sure?
Should a board try to mediate an issue between residents or is its role limited to enforcement?
Speaker
Kenneth Jacobs, Smith Buss & Jacobs LLP
6:25 – 7:00pm – Networking & Tour of The Sutton
LOCATION
The Sutton
959 First Avenue
New York, NY 10022
FOOD * DOOR PRIZES * GREAT EDUCATIONAL VALUE
CEU hours
RSVP is required. Limited space.
No charge for board members and managers.
$100 charge for CAI business partners.
$250 charge for Non-CAI vendors.
No charge for CAI Big Apple sponsors.
Tags: NYC Event
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