co-op sublet rules

[jipp]

What is the name of your state (only U.S. law)? NY

Hi,
I am a shareholder in a coop in NY. I have recently rented my apartment asking for permission for 1 year extendable to 2.
4 homeowners did the same in a building with 16 apartments and recently a 5th came forward.

the board feels that no more than 25% of the building should be rented since financing/refinancing procedures may become difficult so we are at a point where someone has either to sell or have his/her apartment empty.

so who has to sell? are there any State rules?

In writing (meeting minutes) it is established that it is on a first come first served basis that rentals are established.

so... do the 2yr extensions count on date of first approval or since approval for extension is required after a year do we start from zero?

there is another homeowner that has 2 apts - one on the first and another on the 4th floor. since connection is not possible can it be considered speculation? does the owner loose priority?

is this a decision exclusive to the board (no rule) and with no legal appeal? May they just choose the tenants or owners they like best?

 

[You Are Guilty]

I don't think you're going to like this answer, but read this - it explains the powers of a co-op Board:
http://www.courts.state.ny.us/reporter/archives/levandusky_one.htm

 

[jipp]

This is going to be up to the interests and fair mindedness of board members. critical.

thank you for your reply.

 

[jipp]

Does anybody have a different view?
should speculation by one of the owners play a role and help prioritize the case?
do 2ys extensions have priority over new requests?

thank you

 

[You Are Guilty]

I guess I could have been clearer. That is all up to the Board's discretion - providing they do not exercise it discriminatorily, or beyond its powers as enumerated in the Proprietary Lease and/or House Rules and/or By-Laws.

(In other words, they can pretty much do it any way they want to, as long as the reason isn't something like race, religion, gender, etc.)

 

[HomeGuru]

Does anybody have a different view?
should speculation by one of the owners play a role and help prioritize the case?
do 2ys extensions have priority over new requests?

thank you

**A: no, I don't have a different view.
signed,

Anybody

 

[FlyingRon]

**A: no, I don't have a different view.
signed,

Anybody

I'm not Anybody, I'm Nobody, but I agree with YAG, too.