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"Everybody asks the same questions: 'When was the last maintenance increase?
Work initially began in March after the 55 or so co-op owners agreed to a maintenance increase.
"Surplus funds are generally funneled to the building's reserve fund or used to reduce next year's maintenance increase," he said.
"We had done their budget and anticipated a 50percentt increase in the premium," she said, "and they were looking at a 10percentt maintenance increase.
If the board has to refinance, Ms. Shapiro said, "that could result in a substantial maintenance increase and put a crimp in a retiree's budget".
I have refused to pay the last maintenance increase and have requested additional information about it from the management company four times since May 2001.
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Part of the problem is that for years, many buildings have not needed substantial maintenance increases.
"In some buildings, there haven't been maintenance increases in years," Ms. Racht said.
But maintenance increases in 2009 will probably be much lower, Mr. Janangelo said.
The cost has been financed almost entirely through maintenance increases and the co-op's reserve fund.
There were big spikes in energy costs in the last two years, which put maintenance increases at 10percentt on average.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com