Co-op changing sublet fees

Started by Suzanne5446

over 11 years ago

Posts: 0

Member since: Mar 2014

Discussion about

Hey, everyone. Does anyone have wisdom regarding sublet fees being raised after you've got a tenant in place? That is, when my tenant moved in the fee was $150, but two months later the board changed their policy and it went up to $175 a month. Am I beholden to the tide and I have to go with the changes, or should I remain on the initial contract when the tenant moved in? Thanks so much, Suzanne

Response by cb14

almost 11 years ago

Posts: 2

Member since: Jul 2008

Typically you will have a contract between you and the tenant that last 1 year. If the board imposes a sublet fee per month, then it can be changed at any time, but I imagine if they charge a yearly fee, then it can only be changed after that year is up.

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Response by NYCMatt

almost 11 years ago

Posts: 7523

Member since: May 2009

The only "contract" here is between you and the tenant. The co-op can change its rules and fee structure at any time.

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Response by jelj13

almost 11 years ago

Posts: 821

Member since: Sep 2011

On my board, we only allowed 1 year leases. Renewals had to be approved by the board. However, any increases on the sublet fee were only implemented on a new lease or renewal. We didn't think it was fair to the owner to "change the game" after the lease was in effect.

Co-op changing sublet fees

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