As a co-op shareholder/resident for over 20 years and prior board member i have noticed how we as shareholders have no way to check on prices and practices. We have no method of checking on the quality or problems with managing agents or contractors. We are totally relying on the honesty and competence of the in place managing agent and or managing company.
There are many ways to rip off a co-op, and as always, the more knowledge and the more people watching is the best defense. The recent disclosures of highly regarded and well known professionals and corporation board members being totally corrupt and totally inept shows all of us shareholders that the more we check, the less chance of our collective monies being misappropriated or stolen.
My hope is this blog and other web tools can be used as a consumer tool for shareholders.
i have searched the Internet and have found nothing devoted to this subject.
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