Posts Tagged ‘holiday’

Happy New Year

December 31, 2014

2015 New YearNew Year

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To Inhouse Web-Site

 WISHING EVERYONE A PROSPEROUS AND HAPPY

2015.

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Need consulting, coaching or problem troubleshooting regarding other single-family or multi-family housing issues? We’ll be pleased to help you. Visit us at the Inhouse Corporation website or contact us at inhouseco@aol.com

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Blog Terms of Use, Disclaimer and Disclosure: The purpose of this blog is to promote awareness and general discussion of the presented topic. Use of this blog shall be the reader’s agreement this blog: (i) may possibly contain one or more instances of unverified information; and (ii) is not a substitute for the advice of a qualified professional and each action that may be taken shall be under the specific guidance, oversight and/or performance of a professional qualified in the subject matter. If you have a question or want assistance with a featured or related matter please contact us at InhouseCo@aol.com (include the blog article title on the subject line). Links, references and credits in this blog are for convenience only and are not endorsements by the author or Inhouse Corporation. Statements, comments and/or opinions of blog authors and/or users of this blog may or may not reflect those of Inhouse Corporation. Users who comment on this blog are solely responsible for their comments and opinions.  Comments and/or opinions deemed uncivil or inappropriate will be removed or not posted.  

Enjoy the Holidays

December 20, 2014

Fezziwig's Christmas Party

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To Inhouse Web-Site

 AT THIS GLORIOUS TIME OF YEAR we wish everyone a wonderful and safe holiday.

Merry Christmas

Happy Hanukkah

Joyous Kwanzaa

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Need consulting, coaching or problem troubleshooting regarding other single-family or multi-family housing issues? We’ll be pleased to help you. Visit us at the Inhouse Corporation website or contact us at inhouseco@aol.com

***************************

Blog Terms of Use, Disclaimer and Disclosure: The purpose of this blog is to promote awareness and general discussion of the presented topic. Use of this blog shall be the reader’s agreement this blog: (i) may possibly contain one or more instances of unverified information; and (ii) is not a substitute for the advice of a qualified professional and each action that may be taken shall be under the specific guidance, oversight and/or performance of a professional qualified in the subject matter. If you have a question or want assistance with a featured or related matter please contact us at InhouseCo@aol.com (include the blog article title on the subject line). Links, references and credits in this blog are for convenience only and are not endorsements by the author or Inhouse Corporation. Statements, comments and/or opinions of blog authors and/or users of this blog may or may not reflect those of Inhouse Corporation. Users who comment on this blog are solely responsible for their comments and opinions.  Comments and/or opinions deemed uncivil or inappropriate will be removed or not posted.  

Cooperatives: Empty Seats

December 8, 2014

2014-12-08 - IMAGE, en.wikipedia.org

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To Inhouse Web-Site

 DURING THE APPROACH AND ONSET OF THE HOLIDAY PERIOD attendance at cooperative board meetings typically dwindles. Often there are more empty seats than attendees. Unfortunately, this not only applies to shareholders but to board members as well.

Gift shopping, setting decorations, travel plans, company holiday parties, dinners, family gatherings and visiting friends generally occur in a fairly short time span, causing folks to be unreachable or unable to be at the assembly. Recognizing this, many cooperatives schedule their board of directors meetings in a manner that has the least negative effect on attendance, especially for board members.

But sometimes the business of the cooperative requires a scheduled or special board meeting in the thick of the holiday season, such as in the case of approving a new shareholder applicant or authorizing an unexpected repair. In circumstances like these convening a quorum of board members can be a challenge when more enticing seasonal festivities beckon, and it can be even more of a challenge to pull together a quorum at the last minute for a special meeting.

What is a quorum? It is the least number of members who need to be present in order for the meeting to be considered official. If there is no quorum, there cannot be a meeting and, therefore, no action may be taken on any cooperative business.

As technical advisers to cooperatives we often see a board of directors that consists of five or seven members (five members is most common) who are elected to board positions by shareholders. A quorum for a five-seat board usually is three members and for most cooperative actions a majority vote of the board is necessary.

Yet, as is apt to happen during holidays, cooperatives sometimes stumble at a point when one or more board members are absent and only a quorum is present. The stumble is likely to occur due to a misinterpretation of the word “majority.” Unless the cooperative documents explicitly state otherwise, a majority board vote typically means a majority of all the seats on the board ― not a majority of the board members in attendance.

For example, on a five seat board having a quorum requirement of three members and with only the quorum present, all three of the members must vote to approve an action. Too many times, when reviewing board minutes, we found a board secretary had improperly declared an action approved when just two of the three-member quorum voted to support a motion. The rationale, of course, was that a majority of the three members voted to approve the action. However that rationale is incorrect since two votes on a five member board do not constitute a majority, only three or more would be a majority. Consequently, in such an instance, a matter the cooperative thought was approved actually had not been, leaving the door open for opponents to the action to argue it was not authorized.

In some situations, with just two votes in favor, we had to request the full board to vote again on those measures to obtain proper authorization.

Bottom line: To better avoid potential controversy and disputes, ensure the term “majority vote” in the cooperative documents is properly defined and upheld before declaring a measure to have been approved.

 

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Need consulting, coaching or problem troubleshooting regarding other single-family or multi-family housing issues? We’ll be pleased to help you. Visit us at the Inhouse Corporation website or contact us at inhouseco@aol.com

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Blog Terms of Use, Disclaimer and Disclosure: The purpose of this blog is to promote awareness and general discussion of the presented topic. Use of this blog shall be the reader’s agreement this blog: (i) may possibly contain one or more instances of unverified information; and (ii) is not a substitute for the advice of a qualified professional and each action that may be taken shall be under the specific guidance, oversight and/or performance of a professional qualified in the subject matter. If you have a question or want assistance with a featured or related matter please contact us at InhouseCo@aol.com (include the blog article title on the subject line). Links, references and credits in this blog are for convenience only and are not endorsements by the author or Inhouse Corporation. Statements, comments and/or opinions of blog authors and/or users of this blog may or may not reflect those of Inhouse Corporation. Users who comment on this blog are solely responsible for their comments and opinions.  Comments and/or opinions deemed uncivil or inappropriate will be removed or not posted.  

Real Estate: The Thanksgiving Report

November 18, 2014

2014-11-09 - Thanksgving Banner

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To Inhouse WebSite

REGARDLESS OF HOW THANKSGIVING IS OBSERVED, its meaning often finds a way to pierce the routines and festivities we now associate with the day. And sometimes examples of this emerge from unexpected settings.

Right after Labor Day not too long ago a retired lady came to us requesting assistance with an ancestry project that included her family tree and places family members lived and visited over the years. Although pleased she asked for our help, we politely explained our research resources are mostly focused on investment grade real estate consulting and research rather than ancestral lineage.

Undeterred, she said genealogical aspects of her request were secondary to having us seek a meaningful piece of her family’s history ― namely, an old log cabin camp site in rural upstate New York. Earnestly recounting the considerable time she consumed unsuccessfully endeavoring to find it, she revealed a general idea of its suspected regional whereabouts yet was unable to pinpoint its location. Once found, she wanted a map depicting its position on the lake and present-day pictures of it for her project. We reconsidered then agreed to work on the matter.

An interview of the lady ―now our client― revealed smatterings of information based on childhood memories of gossip shared by long-gone relatives. She said the log cabin had been owned by her grandmother during the 1920’s or 1930’s. Its perceived importance stemmed from old family letters that indicated “the camp” had been a gathering spot for relatives during holidays and summer vacations. Our client believed it was sold during the 1940’s.

Preliminary review of the several faded photographs showed a log cabin on a nameless lake shore front. With the brittle handwritten documents and tattered map fragments she possessed yielding nothing overtly useful to track down the camp site, we commenced a painstakingly methodical examination of the material. It was slow, especially since some of the paperwork contained incomprehensible or illegible passages or inscriptions. Moreover, various geographic features and places had eighteenth and nineteenth century names that changed over the years, requiring supplemental research.

Gradually, as bits of handwritten references were deciphered and linked to photos and maps, an elimination process was undertaken to match those depictions with relevant shoreline portions of two likely lakes in the suspected region. Visiting the towns in which those water bodies lie, finding then studying aged municipal records and an old community map eventually produced clues leading to two adjacent parcels on one of those lakes, just outside a popular summer resort locale.

By mid-November we had sufficient data to reasonably conclude the two identified parcels at one time formed the sought log cabin camp site. Apparently a subsequent owner of the property subdivided it into two parcels sometime after the 1930’s. However, there was no trace of the log cabin pictured in the old photos. Decay, fire and/or a new owner likely took it down sometime in the past. 

Our findings were packaged into a report along with the requested map and photos, all of which our client received a few days before Thanksgiving. She called to express her thanks. As we said then, and say to all now: “Happy Thanksgiving!”

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Need consulting, coaching or problem troubleshooting regarding other single-family or multi-family housing issues? We’ll be pleased to help you. Visit us at the Inhouse Corporation website or contact us at inhouseco@aol.com

***************************

Blog Terms of Use, Disclaimer and Disclosure: The purpose of this blog is to promote awareness and general discussion of the presented topic. Use of this blog shall be the reader’s agreement this blog: (i) may possibly contain one or more instances of unverified information; and (ii) is not a substitute for the advice of a qualified professional and each action that may be taken shall be under the specific guidance, oversight and/or performance of a professional qualified in the subject matter. If you have a question or want assistance with a featured or related matter please contact us at InhouseCo@aol.com (include the blog article title on the subject line). Links, references and credits in this blog are for convenience only and are not endorsements by the author or Inhouse Corporation. Statements, comments and/or opinions of blog authors and/or users of this blog may or may not reflect those of Inhouse Corporation. Users who comment on this blog are solely responsible for their comments and opinions.  Comments and/or opinions deemed uncivil or inappropriate will be removed or not posted.