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New company to ease co-op/condo elections.

New company to ease co-op/condo elections

Whether co-op shareholders are facing disputes, animosity towards the board sponsor problems, quorum difficulties, or mismanagement of funds, there is now expert help nearby. The newly formed Co-op Election Company specializes in handling problems concerning co-op and condominium elections.

"No matter if it is a question of getting a bigger voter turn out, a desire for an impartial third party to deal with the ballots, or a need for confidentiality, Co-op Election Company can provide the service," says president Joyce Miller.

Co-op Election Company is a new affiliate of Shareholder Communications Corp., a proxy solicitations firm which has been in business for 22 years. Part of Shareholder Communications Corp.'s business has always involved conducting annual Board of Directors elections and special election meetings for co-ops and condominiums. Now, as part of an expansion move, they have spun off the Co-op Election Company to specialize in co-op and condo elections.

Miller is a board member in her own co-op building and has been a real estate broker for seven years. "From my first hand experience I know how boards operate and what the election process is all about."

"There are many problems that can arise in co-ops and condominiums such as missing funds, serious building problems, bad contractors, inadequate security, or fast increases in maintenance," Miller pointed out. "These problems can create difficulties between board members and shareholders."

The Co-op Election Company can facilitate the election process by sending out annual meeting notices, gathering and tabulating proxies before a meeting, supervising the actual voting at the meeting, tabulating the vote independently, providing an affidavit as to the accuracy of the tally, and writing, printing and distributing ballots, proxies, and notices. Furthermore, they can provide voting services for special shareholder meetings such as flip tax.

Miller points out the Co-op Election Company offers much needed confidentiality and impartiality for elections. "By using our services, shareholders are free to vote without offending their neighbors from whom they may need favors or approval to sell their apartment. Then, too, if there is any animosity among the shareholders, it is always a good idea to have a third party present to resolve any disputes. In that way, everyone including the board, managing agent, and attorneys are free of involvement and will abide by the results."

Since getting the voters out is an important part of the election process, the Co-op Election Company works diligently to guarantee a quorum. "We make sure to phone shareholders to remind them to attend an upcoming meeting. I know how important it is to attend, and how hard it is in some buildings to overcome apathy," said Miller. She emphasizes that the Co-op Election Company not only offers partial or full election services but also can provide advice and information. "We're very willing to discuss the trials and tribulations of holding elections."

Miller houses her company in the Wall Street area offices of Shareholder Communications Corporation.
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Copyright 1992, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Title Annotation:Co-op Election Co.
Publication:Real Estate Weekly
Article Type:Company Profile
Date:Feb 5, 1992
Previous Article:In London, overseas investment on rise.
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