Co-op of Wasted Potential
Pros
- Easy access to transportation; the building is directly across the street from the B/Q subway station, right off the Belt Parkway (with a municipal lot across the street as well for paid parking), and multiple bus lines - Reasonable unit sizes - Comparatively low monthly maintenance fees - Sublets permitted from day 1 - Cats and small dogs allowed - Shared Laundry (pay per use) in building
Cons
- Undependable Property Management - Co-op board has aspirations of mediocrity - Unreasonable delays (or noncompliance) for most processes (addressing violations, health hazards, water penetration, insurance claims, etc.) - Lack of transparency (maybe 2 shareholder meetings in a 7 year period) - Package theft issues - 20lb weight limit on dogs (monthly pet fee for subletters)
Advice to the owners
Best is the enemy of good, but you can still aim higher than the bare minimum (which somehow is often still not reached).