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Re: "Key money" and other corruptions

Posted by Vern on August 09, 1997 at 12:23:27:

In Reply to: "Key money" and other corruptions posted by Scott on August 06, 1997 at 17:15:33:

: My job just transferred me here from San Francisco
: and I can't believe the corruption involved in
: finding a place to live.

welcome to New York -- this is the norm, not the exception

: I'm about to move into my first apt. and 2 days
: before the broker calls to tell me the tenant isn't
: ready to move out. That was the final straw and
: he's agreed to pay for my hotel room. I got the
: tenant's phone number and she warned me to
: watch out for this broker and the landlord.

That's surprising; most wouldn't even do the hotel room

: And what's this key money business? Why should
: I pay $50 just to move into an apt. I've already
: paid a broker $3,000 for finding and the landlord
: $3100 for first/security. What's the best action to
: take?

Depends on who is demanding the key money. Can they really
stop you getting the unit after you've paid everything else up
front? Pay it by check to prove you paid it, then file with DHCR
for overcharge (and watch them say it's OK) or take it
off your rent after you've moved in. If they won't take
a check, then have a friend witness it or tape record
the payment. The landlord will deny it later.

: Last question: The building is a co-op and the
: landlord is a management company/owner of the
: apt. who is sub-leasing the apt. to me. What
: position does that put me in? What do I need to
: watch out for?

If it's a coop, then chances are it's not rent stabilized,
so you couldn't file with DHCR. Are they also the sponsor
or former landlord? It's called a sublease as the "owner"
is actually leasing it from the co-op corporation, but it's
a misused term. You would be the tenant. But if it's not
rent regulated, the only rights you have (for the most part)
are those in your lease.

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