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Re: Sublease of coop owner

Posted by Provost on September 07, 2001 at 20:45:40:

In Reply to: Sublease of coop owner posted by Alex on September 06, 2001 at 17:16:20:

Trick to avoid paying taxes ? Lot of work for a "trick", and in any case, taxes are an IRS matter, and the IRS does not look kindly on tax cheats.

But more to the point, you would be living in an apartment without board aproval. Both you and the coop owner would be taking a big risk. Coop board members usually become board members becuase they are busybodies with too much time on their hands. Won't take them long to figure out that you live there and the coop owner doesn't. They can sue the owner for violation of the properitary lease and would probably win. You could be evicted, maybe not "quickly", but in any case you'd be in the middle of a fight, and the coop owner might try to kick you out himself once he starts to feel the heat from the board.

In short, your feelings are right, I would be very wary of this situation.

: Hi!
: I was offered an apartement in Riverdale (Bronx) in coop building. Owners told me that I will not get board appoval (I'm less than 1 year in the country and have few months credit history) so they propose just to sign a sublease agreement (with a 2-month security deposit). Actually I suspect that this is just a trick to avoid paying taxes and, besides, this sublease agreement means nothing - I can be thrown out of paratment easily (as far as I know the only way to sublease an apartement in coop is to be approved by board).

: Am I right?

: Thank you!

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