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Condo Board

Started by apt_seeker
over 17 years ago
Posts: 4
Member since: Apr 2009
Discussion about
Hi guys - I was hoping someone could help me. I came to an agreement on a rental price with a landlord below his asking price and we both signed the lease agreement. It's getting reviewed by the condo board and they are questioning the price - it is well below the same line apartments in the building but isnt as renovated etc. Can a board reject me because of the price the landlord and I agreed upon? Also, the lease is for 4/15 and I still havnt been approved even though they've had the documents for over 2 weeks. If I end up getting approved but dont hear by today/tomorrow should i prorate the 1st months rent? Thanks in advance for your suggestions/help.
Response by westsider3
over 17 years ago
Posts: 42
Member since: Feb 2008

Is this a condo or a coop? The rules are different. In a condo if the board rejects you then they have to be willing to pay the same price for the unit. The rules are different for Co-ops and vary from building to building.

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Response by apt_seeker
over 17 years ago
Posts: 4
Member since: Apr 2009

it is a condo board. so they can reject me based on the price we agreed to if they want to rent the unit?

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Response by westsider3
over 17 years ago
Posts: 42
Member since: Feb 2008

It is seriously doubtful that they want to spend the money. They would have to pay the landlord the same amount of money for the term of the lease. Most condo's are not in a position to do this. They are probably just jerking you around. Is this condo in Hells Kitchen by chance?

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Response by apt_seeker
over 17 years ago
Posts: 4
Member since: Apr 2009

yes.

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Response by westsider3
over 17 years ago
Posts: 42
Member since: Feb 2008

Your future landlord needs to contact the board and work on your behalf in order to get the process moving.

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