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General Information MEMBERSHIP IN A HOUSING COOPERATIVE leads to your participation in the cooperative ownership and operation of a housing development. There has been an increase in cooperative ownership of housing in the United States during the past several years. The reasons for this increase in popularity of cooperatives for housing are many: 1. The cooperative approach to housing instills a pride of ownership resulting in a deeper interest in maintaining the property and participating in civic affairs; 2. A cooperative is operated on a democratic basis; 3. A cooperative gives its residents a greater insight and appreciation of the democratic processes in general; 4. Cooperative residents normally occupy their dwelling units for longer terms than renters. Thus the members become better acquainted with their fellow residents and learn to work together for the over all betterment of the development and the community; 5. All residents share equally in the obligations of the development with no benefit going to any “outsider” such as an absentee landlord; 6. Maintenance costs in a well operated cooperative are minimized since experience as shown that owners take better care of their property. Cooperative members frequently handle the redecoration of their units on a “do it yourself” basis. (Return to Top of Page) WHAT STRATFORD IS. The Corporation is organized for the benefit of its resident/owners, or members. The articles of incorporation provide that the corporation’s primary function is to provide housing on a cooperative non-profit basis for the benefit of its members. The By-Laws of the Corporation form the constitution for the membership group of owner/residents/members. They define how the Corporation shall function. They guarantee democratic control and they define the struction of the corporation and the rights and obligations of the members. In these By-Laws you will find provisions for eligibility for membership andthe manner in which membership may be terminated; provisions for regular meetings; the method for electing the Board of Directors and the extend of their powers and duties; as well as the technical requirements for the fiscal management of the Cooperative Corporation. (Return to Top of Page) THE MEMBER AND HIS/HER RELATIONSHIP TO THE COOPERATIVE. The most important part of the Cooperative is the individual member. The Cooperative has been created for the benefit of the member with that of his/her fellow member. When a dwelling unit is available for occupancy, a member enters into an OCCUPANCY AGREEMENT with the Cooperative. This Agreement specifically defines the member’s right to occupancy of his/her dwelling unit. The Occupancy Agreement provides certain protection to a member about his/her rights in the use of his/her dwelling unit. It also establishes certain limitations required for the benefit of the entire community or required by law. (Return to Top of Page) MONTHLY HOUSING CHARGES (CARRYING CHARGES). The “Monthly Housing Charges” paid by an individual member together with those of his/her neighbors provide the funds necessary to meet the budget for the Cooperative which has been submitted to and has been approved by the appropriate governmental authorities. These monthly housing charges are used to pay the mortgage charges, real estate and other taxes, the costs of administration, operation and maintenance of the Stratford Townhouses Community. Just as in any other business corporation, costs and expenses may change from time to time. You will note, therefore, that the Occupancy Agreement provides for a periodic review, at least annually, of the monthly housing charges which may change as conditions require. Excess funds may be returned to members as patronage refunds or a reduction in the monthly housing charges. Monthly Housing Charges are ALWAYS DUE ON OR BEFORE the first (1st) of every month. Pay only by check or money order; never cash. You may mail or deliver your payments to the office, but it must arrive at the office by the tenth (10th) of the month to avoid late charges. You may also leave your payment in the drop box slot located near the door of the office. Rembmer, because of the late charges, it is cheaper for you to borrow from some other source (than the Cooperative) if you have to. Payments made with “non sufficient funds” checks (and checks returned by banks for any other reasons) result in the same loss of funds to the Cooperative as non-payment, therefore, the same late charges accrue. In addition, after two such checks, only money orders or certified checks will be accepted as payment. (Return to Top of Page) BOARD OF DIRECTORS. A five-person Board of Directors, elected by the members, sets the policies of the Cooperative, and has all the powers and duties necessary for the administration of the affairs of Stratford Townhouses. For a more specific listing of the powers and responsibilities, see the By-Laws. The Board of Directors serves without compensation and are usually members of the cooperative. They elect the Corporation officers: President, Vice-President, Secretary and Treasurer. Board meeting are held regularly and are always announced in advance in the Cooperative newsletter. All Board meetings are held in the Community Building Office and all Cooperative members are encouraged to attend. A portion of the meeting is normally set aside to permit any person to speak on Cooperative policies or problems. Appeals from the action or decision of the manager, maintenance or any committee may be made to the entire Board of Directors IF SUBMITTED IN WRITING WELL BEFORE A BOARD MEETING - usually at least ten (10) days. (Return to Top of Page) MANAGEMENT. Each member should bear in mind that the MANAGER TAKES ITS ASSIGNMENTS FROM THE BOARD OF DIRECTORS, and not from the individual members of the Board. While any member of the Cooperative (who is well informed), as well as management, may point out previous actions of the Board, or various sections of Cooperative Policies, only the Board of Directors, in a meeting duly called and constituted, may make exceptions to existing policy or interpret various regulations. The business affairs of Stratford Townhouses are conducted by the management company, whose representative may be contacted at the Cooperative office. The manager will assist you in getting the service to which you are entitled as a member of the Cooperative. However, the manager cannot do things that are contrary to policy of the Cooperative without specific Board action. (Return to Top of Page) MAINTENANCE. The Cooperative maintains the building and the original equipment within them. Extra equipment added by the members, such as window air conditioners, humidifiers, washers, dryes, roll-around and portable dishwashers, etc., and any equipment contingent to the operation of the special devices, must be maintained by the member. All decorating, interior painting, carpeting, drapery and so forth is also the responsibility of the member (within policy guidelines). If you need service for Cooperative maintained equipment, such a furnace, disposal, electrical wiring, plumbing, windows, roof, walls, etc., call the maintenance department at any time. Your request will be noted and serviced when possible. If you have an emergency after hours WHICH THREATENS THE HEALTH OR SAFETY of your family or threatens to damage the property unless corrective action is taken immediately, call the maintenance number and you will be told how to reach the maintenance staff immediately. YOU WILL NOT GET SERVICE ON AFTER HOURS CALLS THAT ARE NOT EMERGENCIES AS EXPLAINED ABOVE UNTIL THEY CAN BE REGULARLY SCHEDULED. Any repairs made necessary due to member neglect or carelessness (or the similar actions of member’s guests) will be charged to the responsible member and must be paid not later than the first of the month following billing. After this period, since they are considered as a part of your monthly housing charges, they will be considered late and the resulting delinquency is subject to late charges. Negligent or careless damage includes wearing of sod at the front and rear of all units, all glass breakage, as well as the improper care of hardwood floors, etc. Normal care is assumed when given any consideration to a claim of normal wear (Return to Top of Page) DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD), by the Federal Housing Administration (FHA), has signed an agreement to insure and guarantee the mortgage. The Cooperative has signed a Regulatory Agreement with this federal agency to secure the mortage and guarantee. This Agreement has enabled us to obtain a loan at the hightly advantageous rate of 3% per annum. UNDER THIS AGREEMENT WE HAVE AGREED TO ADMIT ONLY THOSE PEOPLE WHOSE INCOME AND FAMILY SIZE FALLS WITHIN PRESCRIBED LIMITS (WHICH MAY CHANGE FROM TIME TO TIME). The Regulatory Agreement also places other restrictions on the Cooperative, mostly relating to prudent financial practices, such as strict collection of monthly housing charges from members. HUD’s interest in the Cooperative is with the payment of the mortgage, both in the present and the future, and therefore the proper financial conduct and adherence to regulations during day to day business. THE OPERATION OF THE BUSINESS TRANSACTIONS AT STRATFORD TOWNHOUSES IS THE RESPONSIBILITY OF THE BOARD OF DIRECTORS. (Return to Top of Page) COMPLAINTS. To complain about maintenance service, other residents, management practices, bookkeeping errors, etc., always call the on site office and attempt to have the difficulty resolved. The office and/or the Board of Directors will request a written, signed complaint, as any further action that may be required usually cannot be taken without this type of verified complaint. If you are not happy with the suggestions or resolution of your problem, you are encouraged TO ARRANGE TO APPEAR before a meeting of the Board of Directors (See BOARD OF DIRECTORS, this section.) (Return to Top of Page) EVICTIONS. Although every effort is made in the Cooperative to create a homeowner atmosphere, THERE ARE SEVERAL CONDITIONS WHICH CAN LEAD TO EVICTION. These include delinquency in monthly housing charges or other payments, the creation of continuing hazards or nuisances, continued violation of Board regulations, or violation of any of the terms and conditions of the Occupancy Agreement. (Return to Top of Page) CONFIDENTIAL INFORMATION. No private or personal information regarding any Cooperative member is ever to be divulged by Cooperative staff or officers without the express consent of the member in question, other than that information given to the Board of Directors or committees of the board properly authorized for the conduct of Cooperative business, or given to duly authorized governmental agencies. Neither your address or phone number will be given to “friends” or “relatives” who drop into the office and request it. If you have friends coming from out of town, let them know your address before they arrive. (Return to Top of Page) TRANSFERS FROM UNIT TO UNIT. If a member chooses to transfer to another unit because of a reduction or addition to the family structure or for any other reason, it must be approved by the Board of Directors or their authorized committee. Transfers are always subject to the current regulations governing such moves, and you should contact the office for those regulations. The Board of Directors does not encourage the practice of transferring from unit to unit, although it does recognize that the need does arise at times. (Return to Top of Page) RENTING. Renting of rooms is not permitted. Any member found to be renting is in violation of the Occupancy Agreement and can be evicted. (Return to Top of Page) RECERTIFICATION. Once every year, approximately on the anniversary of your membership in the Cooperative, you will be requested by the office to recertify your family size and income. This is done by governmental regulations, and is a condition of continued occupancy. If you refuse to comply with this request immediately when made, you will pay the MARKET RATE (rate applicable if the Cooperative did not have a reduced-rate mortgage) for your unit from the anniversary of your membership until you comply. If you are presently paying a monthly housing charge rate greater than the “BASIC” rate and your income is reduced for some reason, you may request recertification to reduce your monthly payments, at a minimal charge for the paperwork involved. (Return to Top of Page) MEMBERSHIP CERTIFICATE. After you move into Stratford Townhouses, you will receive a Membership Certificate as evidence that you are a member of the Cooperative. This certificate is comparable in many ways to a stock certificate given to stockholders of other corporations, since it certifies you ownership rights in the Cooperative. When you move, you must return the Certificate to the office with your endorsement on the back in order to get your refund. (Return to Top of Page) INSURANCE. The Cooperative insures all property owned by the Cooperative. However, there are important areas which are not covered by the Cooperative’s insurance. The Cooperative’s insurance does not portect your personal belongings, nor does it offer you liability insurance for accidents that happen within your unit. Also, a member is responsible for the Cooperative’s insurance deductible amount (at least) if a loss occurs that is due to the carelessness or neglect of that member. To cover such things, you should lbtain a form of homeowner’s insurance. (See Special Insert on next page). (Return to Top of Page) FAMILY SIZE. Changes in family size need not be reported except at the annual recertification time. However, no one may be added to your family except your unmarried child, your unmarried parent, or your unmarried brother or sister whose parents are no longer living. A change in family size may be reported for changing ownership on the Membership Certificate at any time. Additionally, newly acquired spouses may be added to your family without report, if you desire. ANY EXPECTIONS TO THE ABOVE POLICY MUST BE REQUESTED IN ADVANCE FROM THE BOARD OF DIRECTORS, AND WILL ONLY BE CONSIDERED UNDER EXTREMELY UNUSUAL CIRCUMSTANCES. (Return to Top of Page) POLICE POWERS. Neither the Cooperative maintenance personnel nor the management personnel are police officers. The jurisdiction of the Grand Rapids Police Department extends to Stratford Townhouses property, and they should be called when needed. (Return to Top of Page) PARKING. The Cooperative has a parking space for each townhouse, plus a few extras for guests. Because of the limited space, the Cooperative has instituted a rigidly enforced Parking Policy (See the text in this Handbook). YOU ARE NOT ONLY RESPONSIBLE FOR THE WAY YOU PARK YOUR VEHICLE, BUT FOR YOUR GUESTS AS WELL. Any charges will be charged to the member responsible. (Return to Top of Page) EXTERMINATION. If you require the services of any exterminator for insects or rodents, call the maintenance department. There is no charges for this service unless the problem is caused by your negligence. If roaches or other insects are discovered in a townhouse, the Cooperative may have to great every unit in that building. Therefore, you may find the exterminator at your door even when you have not called for that service yourself. Your cooperation is appreciated, and will help protect your own home from these pests. If you are requested to clean out areas of your unit for extermination service and you did not, you may be charged for the time necessary to the contractor and/or the Cooperative staff to clean out these areas for you, or for the time necessary for the extermination contractor to return. (Return to Top of Page) GROUNDS. The Cooperative provides normal grounds maintenance, such as grass cutting, watering, grounds care, snow removal and general pick-up. Members are uged to help keep our grounds maintained. Don’t throw paper or other litter on the grounds. Do not leave toys, picnic equipment, bicycles, or other items where they may interfere with proper lawn and grounds care by the maintenance staff. The Cooperative is not responsible for equipment which disappears or is damaged. Do not empty barbecue grills on the lawn; only have wading pools on the lawn when actaully in use by children; do not create new walkways on the lawn - if sod or grass or even trees or shrubs are damaged by your action (or children or pets) it will be replace at your expense. (Return to Top of Page) FIREARMS. It is illegal to carry a loaded firearm on Cooperative property or anywhere else in the City of Grand Rapids. Anyone discharging firearms on Cooperative property will be prosecuted. Additionally, the same ordinances and regulations apply to slingshots, bows and arrows, B.B. guns, and any other thing which propels any projectile in like manner. (Return to Top of Page) NUISANCES. Any Cooperative resident who cuases annoyance in any fashion to any of his/her neighbors or to the Cooperative and be evicted under the terms of his/her Occupancy Agreement. (Return to Top of Page) ANNUAL UNIT INSPECTIONS. Besides maintenance service whenever you request it, the Cooperative also makes an annual unit inspection to take care of a multitude of routine maintenance services. Also your townhouse is checked to be certain no hazardous conditions have developed since the last inspection, and that city codes are being observed. You will be notified before any scheduled inspections take place. (Return to Top of Page) ENTRY INTO YOUR DWELLING UNIT. While the maintenance staff has a master key for their convenience, the only time that you unit will be entered is when you request service, during annual inspections, in emergency situations, or on the request of duly authorized governmental agencies. Other than those specific needs, without specific Board direction, your housing unit will be inviolate. Specifically, no one will be let into your unit except as expressly authorized by you. In addition, it is considered the member’s responsibility to have, keep and not lose keys. Additional copies of your keys will be made for you at your request at a reasonable cost. If you should get locked out of your unit, there is a charge for the service payable when you are let in. (Return to Top of Page) PERMITS. Permits are required for pets, installation of certain types of appliances, use of the Community Building, altering your unit in certain ways, etc. Refer to the specific Policies in this Handbook for those details. (Return to Top of Page)
Special Insert (to General Information) ARE YOU PREPARED FOR A FIRE IN YOUR DWELLING UNIT? No one ever expects it to happen to them - but it does happen once in a while. We though that we would like to take an opportunity to explain more fully what the Cooperative’s insurance covers and what your insurance should cover. As you probably know, the development has insurance to rebuild any dwelling unit damaged by fire. However, what you may not know is that this insurance protects the development from loss, and does not protect you! If a fire is caused by your carelessness or neglect (as determined by the fire inspectors), you are responsible for the total amount of the damages sustained. The development’s insurance carrier may (and has in the past) sued the resident for the full amount of the costs involved in repairing a burned unit. At the very least, if a fire is caused by your neglect, you will be held responsible for the Cooperative’s insurance deductible amount. That is what the Cooperative’s insurance does. HOW ABOUT YOUR TENANT’S OR MODIFIED HOMEOWNER’S INSURANCE POLICY? First your insurance will protect you against any suit brought by the Cooperative’s insurance policy, including any lawyer’s costs and fees involved, and will certainly pay the deductible amount if necessary. Secondly, if you dwelling unit should happen to burn, you will have some place to live - your insurance will provide living expense during the time that the dwelling unit is being repaired. Whether or not a fire is caused by your neglect, or whether your unit is damaged by a fire in an adjacent unit, the Cooperative has no responsibility to provide you a place to stay. You have to provide that for yourself.Of course, there are all the things that you normally think of when you consider insurance. Your insurance will pay for cleaning your clothes if smoke damaged. It will pay for the replacement of furniture and other belongings destroyed. It will protect you if someone should be hurt in the fire. It can absolutely minimize your expense and inconvenience if something like this happens to you. Other than the protection offered to you in case of fire, there are lots of other protections offered by this kind of insurance which any sales person will be happy to explain to you. When you consider the benefits of this insurance, and the very minimal costs involved, can you really afford to be without it? We strongly recommend that you consult the yellow pages of your phone book and/or talk to your friends and neighbors about who provides good service for reasonable prices, and get a policy today! Don’t wait! Hopefully you won’t need it, but just in case, you definitely want to be prepared for the unexpected. (Return to Top of Page) |
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