Letting family/close relatives stay in co-op

I think that this totally depends on the co-op. What % down is the co-op, as that's generally a good barometer for how strict they are? Would the friend receive mail at the co-op? Would the owner? Would they have keys?

Most co-ops have lenient guest policies. Immediate family is obviously exempt, but people who aren't blood relations could come under higher scrutiny. Usually, I would advise clearing it with the board first to avoid confusion, but it depends on the building and how obvious the guest will be.

It's about whether you submitted information about this friend.

If you don't declare them as a resident on the initial coop application and they aren't family, then the avg Board will have problems with them showing up intermittently.

The co-op can't prohibit you from having a roommate. It'll find out pretty quickly, though, if you're not really resident there yourself. A co-op that allows unlimited subletting after x years would probably let it slide. Or maybe not. Some co-ops, though loose in some respects, don't like being jerked around and will sue to get your butt evicted. You'd be paying your legal fees as well as the co-op's.

If what you want to do is rent the place out, as you've said in other posts, then you'd be better off coughing up the condo premium and buying one of those.

present the friend as your domestic partner :)

"As a general principle, is it such that as long as there is no sublet contract and money changing hands, it's okay?"

No, it's not.

It's not about money changing hands, it's about who is living in the unit primarily.

If the shareholder isn't there "most" of the time, but someone else (who's not immediately family) is, it's a sublet, regardless of whether there's a contract in place or any kind of financial compensation.

If you are living there full time, you are permitted to have a roommate. If you are not there, it is a sublet and you are subject to your co-op's sublet rules regardless of whether or not money changes hands.

As long as you are living there yourself as well, the co-op can do nothing. That's right: 1 additional person, related to you or not, they can do NOTHING. this is NYS law.

Now, the co-op may not like this, and might make things uncomfortable for you, might send a nasty letter, etc., etc. But they cannot legally oust this person, as long as they are not breaking any laws (and I mean real laws, not the co-op's by-laws or rules).

Keep in mind, this must be the owner's primary residence, and should a dispute ever come up, s/he must be able to prove this (So really, your 2 out of 7 days would be based on the judgment made by the court.)