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Renting at 111 Fourth Avenue

Started by Edjohn
almost 14 years ago
Posts: 0
Member since: Aug 2012
Discussion about
I wanted to know what the rental policy is in this co-op. I was told that if you wanted to rent a unit you had to go before the board for approval. Is this true? Also can you rent for more than a year? I was told that the board prefers to keep it owner occupied and that they wouldn't allow a rental/sub-let for longer than that.
Response by randyreis
almost 14 years ago
Posts: 1
Member since: Aug 2012

Unfortunately, you're going to find this issue in almost every coop building in the city. If boards are cautious about who they allow to purchase in their building, they will usually be even more so with regard to renters...... For most renters, the hassle is just not worth it, best bet is to look for a condo or a rental building. Hope this helps.

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Response by citymouse
almost 14 years ago
Posts: 11
Member since: Dec 2010

3K has been rented for almost two years now. The owner is waiting for the market to go up to sell. Coops have rules for sublets that limit terms and sometimes require significant savings/income flow to pass the board.

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