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Need help with Co-op sublet

Posted by chalkie on July 31, 1998 at 10:45:25:

I need to know what my rights are as I go through the process of subletting a co-op unit from its "shareholder."

Is there a free/cheap resource (preferably a human I could talk to) available that deals with this? I've never rented in Manhattan before, and the application asked for a lot of information that I didn't feel comfortable providing (but I gave it anyhow), like the cash value of my life insurance policy (don't have one, so no real issue here, but you know what I mean).

I'm especially concerned about the interview part of the application process. What questions can and cannot be asked of you by a co-op board when they're interviewing you? Can they ask what religion I practice? Do I have to answer?

I'm also nervous about how my finances look on paper. I always pay my (numerous college) loans, but always late--because I always make sure to pay my rent on time, even if everything else has to be late. Just in case, I asked a relative if he would act as guarantor of the lease for me, and he agreed--but he doesn't want to give all the information that the co-op board asked for, because it's excessive (see above). He has no problem with them checking his credit, and he will provide a letter from his employer stating his title, position, tenure with company, and salary, but he won't supply two years' worth of tax returns, fill out a complete financial statement of assets and liabilities, etc. What information is he required to furnish?

I'm so upset about the whole mess that I'm ready to give up. Any help you can give would be fantastic.

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