Posted by Anna on July 27, 1999 at 12:39:51:
In Reply to: Re: Renter NOT rent regulated ..in a coop posted by Richard on July 27, 1999 at 11:30:53:
: If she is an unregulated renter in a co-op then she's screwed.
She said the conversion occurred 15 years ago: regulated is more likely than not.
: They can and do or change the rules at will, they don't even have to talk to renters
: The co op board will only deal with the owner, and if you break a rule and get fined
: you don't even have the right to defend yourself in front of the co-op board because you are vermin
: ....you are a renter... and the owner will get the fine added to his monthly maintenence bill.
Although this does describe an attitude quite common among these amateur real-estate moguls, it is a violation of the law to refuse to keep renters (at least, non-purchasing pre-conversion rent-regulated renters) informed of all things that do or will affect them. The Martin Act clearly states that they will be served by the same managing agent WITHOUT discrimination: the managing agent/building manager MUST deal directly with the tenants, not the absentee-shareholders. Of course, they frequently violate this, too.
: that is why co-ops are much cheaper then condos......
No connection: the purchase price might be cheaper, but the monthly maintenance is much higher than the condo's monthly common charges... And the same thing would happen in a condo: the board rules the common areas! Dictators and/or incompetent directors are common in both...
Note: Posting is disabled in all archives
Post a Followup