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Co-op Rental

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Co-op Rental

Postby bottomfloor » Tue Sep 02, 2003 9:14 am

I have just put in an application for a rental apartment in a co-op building, but the super explained that the unit itself is not a co-op. My questions are:
1) Who is the landlord if the 'building' is a co-op, but not the unit itself?

2) What rent regulations apply in a co-op building?

Where can I find more information on this topic?
bottomfloor
 
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Joined: Tue Sep 02, 2003 1:01 am

Re: Co-op Rental

Postby Grace Wu » Thu Sep 04, 2003 6:37 am

The partially apts unit are sold by the old building owner (Sponsor) to the coop hareholders. Usually, the sponsors do not completely sell all the apts in the building; they usually hold some apts in their hands. If you rent from the coop shareholders, you are sublease from
the shareholders. The landlord is the coop board. If you rent from the building owner (sponsor),
your landlord is the building owner.
Grace Wu
 
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Joined: Wed Mar 20, 2002 2:01 am
Location: New York


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