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|Topic: Subletting Co-op City apartments absolutely disallowed
Posted: Aug 20 2016 at 7:46am By Administrator
Subletting Co-op City apartments is absolutely disallowed.
Coop City apartment owners/shareholders who cease maintaining their Co-op City apartments as their primary residence or who sublet their cooperative apartments face eviction in accordance with the terms of their occupancy agreement and New York state regulations.
According to the occupancy agreement of the Riverbay Corporation, which is signed by every new incoming cooperative apartment owner/shareholder, the shareholder agrees: "Not to sell, assign, transfer, mortgage, encumber or create any charge upon this Agreement, nor sublet the leased premises or any part thereof or cause the leased premises or any part thereof or suffer the same to be used for any business, commercial or professional purposes or for any purposes other than as a private dwelling apartment of the primary residence of the Member and his immediate family. Section "FOURTH," Subsection 10.
Increasingly, ads are showing up on Craigslist and other websites reportedly advertising apartments either for sale or sublet in Coop City, as well as apartments being used for illicit business endeavors.
Michael Munns, Riverbay's Senior Attorney, said shareholders cannot sublet their apartment because it must be used as their primary dwelling.
For the most part, vigilant neighbors report abuses to the occupancy agreement to their CSO Office. They often time report when the shareholder of record has moved out, but is illegally subletting the apartment, or when there's a lot of foot traffic in and out of an apartment at all times of the day and night.
Complaints to the CSO office may be made anonymously and should contain as much detail as possible. Helpful information if known, includes:
Riverbay investigates complaints of possible illegal subletting or an illegal business operating out of an apartment and if reasonably confirmed, legal action is commenced to evict the shareholder. Munns said that if a shareholder is evicted for violating the primary residence provision of the lease, the shareholder faces costs and fees including, loss of equity attorney fees, court costs, marshal fees, locksmith fees, moving and storage costs and possible adverse credit ratings and difficulty finding another apartment.
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