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escapefromyonkers
splitting FIOS install bonus with managing company
Sat Apr 3, 2010 08:03
67.86.224.168

Verizon gives a co-op building a $$ bonus for allowing access to install FIOS in the building.
how many buildings split the money with the managing company? The board president wants to give half the money to the managing company for the extra work involved with the FIOS installation.
We are suffering financially and just had two major jobs that resulted in two assessment.
one of the jobs, the installation of a waterproof membrane, i will go into in another post

    • split commission Barry Korman, Thu Apr 22 10:46
      As a Managing Agent I feel this idea goes against the Code of Ethics as published by NYARM. The MA works for the building and as such should see that any money earned for the Coop/Condo should go to... more
    • Verizon - Fios Installation AdC, Mon Apr 19 11:54
      Half the money seems extremely high for a FIOS project. However, it all depends on the hours of involvement that the manager dedicated to this that you might think the person may be meritorious of... more
    • Verizon - Fios Installation AdC, Mon Apr 19 11:51
      Half the money seems extremely high for a FIOS project. However, it all depends on the hours of involvement that the manager dedicated to this that you might think the person may be meritorious of... more
      • iam op escapefromyonkers, Wed Apr 21 02:42
        this manging company leaves potholes in ped walk area in the garage, even after they have been reported to them by shareholders90 days latter and the trip and fall arwe still there. simple preco... more
        • Well... AdC, Wed Apr 21 13:26
          You seem to have reasons not consider it necessary. I am answering a posting that could be very real and where performance of management is not in question or controversial. So, the answer is given... more
          • Re: Well... Anonymous, Wed Apr 21 14:02
            Splitting money with the management company or managing agent is for the birds! "For letting Verizon install Fios in the building" What if the Superintendent/Resident Manager were to "Get a... more
    • I Differ in opinion... ~AR, Mon Apr 5 14:00
      The managing agent can negotiate a good deal for you, or a better one, depending on how the relationship with the building is. Do you go out to eat and not tip the waiter if the service was good? Or... more
      • Re: I Differ in opinion CDT, Wed Apr 7 05:12
        AR, the original poster said, "The board president wants to give HALF the money to the managing company." This is hardly a "small gratuity," to use your phrase. I don't know about you, but I've never ... more
        • Re: I Differ in opinion ~AR, Wed Apr 7 08:48
          Its not any percent of the income. The ONLY monies we are talking about are not the rent or lease payments (that would be wrong), but monies that are specified and allocated solely for the commission ... more
          • Re: Verizon FIOS payment CDT, Wed Apr 7 16:02
            The original poster said, "Verizon gives a co-op building a $$ bonus for allowing access to install FIOS in the building." Assuming this is correct, it's a one-time payment made to the building as... more
            • Re: Verizon FIOS payment ~AR, Wed Apr 7 16:15
              I am certain your lawyer charged you his $250-$400 per hour for the consultation, so no additional remuneration would be expected. The way you are seeing it and describing it, I would agree with your ... more
      • Do not give to MA TD, Mon Apr 5 16:57
        As a managing agent myself, I would refuse this offer. My relationship with a client is based on trust and even if the client feels we deserve it, it is the building's money. I would rather go out to ... more
        • Why not kick him too? ~AR, Tue Apr 6 11:14
          I recently negotiated a deal with a rooftop vendor who was going to pay us a months commission on a new lease beginning at 1600 per month with 5% escalations every 3 years... After going back and... more
          • kick is an interesting verb RLM, Wed Apr 7 09:13
            AR Congratulations on an outstanding job for your client - really, really well done. And I have no quarrel with bonuses; I believe in them firmly, myself. Here's the blurry line I mentioned in my... more
            • Re: kick is an interesting verb ~AR, Wed Apr 7 16:23
              My reason for the post is that in this particular case, there is no bidding, no alternate vendors, no room for preferential treatment to a particular vendor, etc... RLM.. Notwithstanding my previous... more
            • kick is an interesting verb JB, Wed Apr 7 10:21
              Absolutely agree with RLM. You can't serve two masters. If there's the possibility of the MA promoting one vendor over another because one will give him/her a bigger commission, then that's a... more
    • $ to MA RLM, Sun Apr 4 01:07
      Glad to hear your MA is earning its fee! Show your appreciation by renewing the contract. Any other line is blurry.
    • Never do not give them nothing, they are supposed to advise you and help you threw the woods. Thats why yu pay them for their management.
      • Verizon FIOS West Cty Board Member, Sat Apr 3 14:31
        Zero dollars to the mgmt agent.
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