How strict are co-op boards about rules like 'rent 2 out of 5 years'?

It is usually a very serious rule that is strictly enforced. Violations may result in sizable fines to the owner and in extreme cases of breach of coop rules the corporation may actually have a legal right to oust the violative shareholder and revoke his shares in the corporation. You may be able to get away with 3 cats instead of 2, but unauthorized subletting is not something to play with in a coop. When you buy in, you know the rules and have to play by them. The coop is upfront. You should be too.

The New York Co-Op Bible by Shapiro has the most comprehensive discussion on this subject that I've ever found. If you want to read about lots of war stories on illegal co-op subletting or attempts to twist the laws into allowing co-op sublets, I'd recommend spending an hour in a nearby Borders or Barnes and Nobles to read the chapter. The bottom line is many people have gotten away with it in the past and many others have been caught. In general the author concludes there is no legal way to pull off an unapproved sublet unless you also live in the unit and invoke the roommate rule.

You also have to understand the rationale for having these rules in place. Coop owners want to know who their neighbors are and don't want their building to be a 'revolving door' of people who may have loud parties, deal drugs, etc. They want to make sure the people sublenting are a responsible as the coop owners.

Advice from a board member of a fairly strict co-op.....don't try. We've forced two owners to sell who thought they could get away with it. It wasn't good for all involved.

Why not just buy a condo? Trying to save a few bucks? There is a reason the co-ops have the rules they do. If you do not want to follow them don't buy one. Event though a condo may cost more, they sell for more when you need to sell. And you can rent anytime you want!

A lot of co-ops don't have those rules (especially downtown). It's worth asking every time.

Though beware of going into a place with a 5/2 rule if you don't intend on following it. The nudge nudge wink wink you get from seller's broker today won't be much use when you get your maintenance jacked for breaking the rules two years down the line.