Cooperative FAQ

Q: What is a Cooperative?

A: A housing cooperative is formed when people join on a democratic basis to own or control the housing and/or related community facilities in which they live.  Usually they form a not-for-profit cooperative corporation.  Each month they pay a fee to cover their share of the operating expenses.  Personal income tax deductions, lower turnover rates, lower real estate tax assessments (in some local areas), controlled maintenance costs, and resident participation and control are some of the benefits of choosing cooperative home ownership.

Q: How do I get a housing application from Marcus Management, Inc.?

A: Please see our listing of current cooperative clients and visit their website for more information.

Q: Can I make my monthly carrying charge payment electronically?

A: Yes – please contact our office to speak with your Bookkeeper to complete the ACH Registration Form.

Q: How can I contact my Board of Directors?

A: All communications for the Board of Directors can be left in a sealed envelope at the Resale Office.  The Board of Directors has an incoming mailbox and will receive your communication.

Q: How can I/we communicate any issues or concerns regarding our community to Marcus Management?

A: Marcus Management’s web site provides a communication tool that allows you to send a message directly to our personnel.  Please feel free to utilize this communication tool.

Q: When will I receive my equity refund check?

A: Once your unit is sold and closed, we will issue your refund check within approximately 30-45 days from the closing date, depending on the Cooperative policy.  Please be sure that you have notified the on-site Resale office of your forwarding address.