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Posted by DK on February 08, 1999 at 12:23:20:

In Reply to: Coop Board Unjustified Eviction posted by rc on February 06, 1999 at 11:14:14:

Often I have found that a co-op board's refusal to renew a sublease has nothing at all to do with the particular subtenant. Instead, boards do not want their shareholders becoming absentee landlords. The co-op thinks that it is important to have the shareholders living in the building so they can be an active part of the co-op community. This is defeated when shareholders do not occupy the apartments themselves, but try to become landlords.

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Comments:
: Often I have found that a co-op board's refusal to renew a sublease has nothing at all to do with the particular subtenant. Instead, boards do not want their shareholders becoming absentee landlords. The co-op thinks that it is important to have the shareholders living in the building so they can be an active part of the co-op community. This is defeated when shareholders do not occupy the apartments themselves, but try to become landlords.


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