high maintenance fees preventing sale

[nyrbt56]

What is the name of your state? New York

Does anyone know about how often maintenance fees can be raised and by how much? Iam trying to sell my co-op and I believe that the maintenance is too high and is preventing people from buying. I just had a 4% increase in August and another 4% will happen in January. Also, last year we had a full month assessment and this summer a half month assessment was charged.

Is there any legal recourse I have against the association because of these high fees? Iwas hoping I could make them buy my place so that I can get out. If the fees are so high which is preventing me from selling, I don't see why not. Anyone know?

Thanks for your help

[You Are Guilty]

Originally Posted by nyrbt56

What is the name of your state? New York

Does anyone know about how often maintenance fees can be raised and by how much? Iam trying to sell my co-op and I believe that the maintenance is too high and is preventing people from buying. I just had a 4% increase in August and another 4% will happen in January. Also, last year we had a full month assessment and this summer a half month assessment was charged.

Is there any legal recourse I have against the association because of these high fees? Iwas hoping I could make them buy my place so that I can get out. If the fees are so high which is preventing me from selling, I don't see why not. Anyone know?

Thanks for your help

Unless stated otherwise in your Proprietary Lease, as often as as much as the Board wants. And, if a limit was set and they went over it, the recourse is to return the fee to its pre-raise amount, not to buy your apartment.

Tried lowering your price yet?