The Challenges of Group Ownership

A New York co-op is not a San Francisco TIC, but there are correlations in any group ownership situation. The New York Times offers this interesting article about new homeowners and the challenge of managing a building for the first time. Registration is required. If you are not registered, here are a few excerpts:

New board members, Ms. Rothman said, have to learn to work together and build consensus. "They’re new to the building, and they’re new to one another. It’s a community to learn about, it’s the responsibilities of the physical plant, and it’s all the people issues."

...Ignoring the big picture was among a new board’s most common mistakes. "There’s one issue that makes a person want to run for the board, and that’s the issue he concentrates on. I hear all the time, ‘Oh, I don’t care about that.' But there are many facets to running a cooperative, and their fiduciary job is to concentrate on all aspects of the co-op."