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My Co-op Is Charging Renovation Fees. Can It Do That?

September 1, 2018

New York Times
By Rhonda Kaysen

Q: Our Upper West Side co-op board has quietly, and without consulting shareholders, implemented a $1,000-per-month fee for every month an apartment is being renovated. The board approved the fee two years ago, and information about it was mentioned in passing at an annual meeting with shareholders this spring. When a shareholder questioned whether co-op buildings in New York could even do this, the managing agent said, “Everyone’s doing it.” But I surveyed friends in other Manhattan co-ops and none had heard of such a fee. Is it true that other buildings are really doing this?

[…]

“Some alterations go on for a long time,” said Phyllis H. Weisberg, the co-chairwoman of the cooperative and condominium law practice in the New York City office of the law firm Montgomery McCracken. “As alterations become more complicated, you tend to see more of this.”

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