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Coop Sublessee Ousted by Board of Directors

Posted by Valerie James on October 20, 1998 at 13:40:37:

My problem is as follows: My husband and I signed a sublease on a coop with an individual who has decided to move to Indiana. The lease expired on Sept 1, 1998. We all signed a new lease and mailed it in to the Management co. in August. On Sept. 8th the apt owner received a letter stating that the Board of Directors was denying the lease renewal. My husband and I went to the very next boardmeeting and was told by the bldg.
manager that there was no specific reason for the denial, that the Board has the right to approve and disapprove cooperators and subleasors and we were disapproved and that was that. When we asked if the owner would be made aware of their reasoning he said No, they did not owe him an explanation either.

Is this real? Can they do this?

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