The first of the month rolls around and it’s time to pay the bills that keep your building operational. Repairs might need to be made, staff salaries paid, maintenance done to keep all the common elements running, and supplies reordered. Th…
Owners of co-ops and condos in New York are apt to find that the neighbors down the hall live according to a different set of rules and often pay less then they do for the same apartment. Thanks to the state law in effect when most cooper…
The media and political buzz surrounding so-called 'homeshare' or 'short-term rental' websites (primarily Airbnb, but also other similar services like Homeaway.com and VRBO.com, just to name two) has been on the upswing over the last year …
My grandmother purchased shares from a HDFC co-op in 1995 for $250. When she passed away, the president of the board explained that since there was no notarized letter signed by her willing the apartment to someone that the family had lost …
Most buildings in flood zone areas already maintained flood insurance as a result of lender requirements and therefore were covered by Sandy. The biggest surprise was those persons who use their homes as home offices or the building rents …
I teach real estate licensing and continuing education courses at New York University and Long Island University. My question is with regard to Form 86, co-op sublets. It is my understanding that New York State law allows a tenant named on …
To reduce their potential liability from secondhand smoke-related issues, condominium and cooperative boards and landlords or rental buildings can attempt to adopt rules and bylaws or lease terms that clearly address smoking issues. (Altho…
Q I recently encountered an unfortunate situation with a co-op apartment sublet, and hope that someone may have some advice. I recently signed a two-year lease to sublet an apartment in a co-op building in Manhattan, with the expectatio…
When the bank took back a Harlem condominium, the rest of the building's residents were stuck with years of unpaid arrears by the former resident. “There was a tremendous amount of arrears from about three or four years already accruing…
Wait a second. You say you bought your apartment, but you don’t own it? Huh?” Explain the concept of the cooperative apartment —you buy shares of a corporation and then rent the apartment to yourself—to a homeowner outside of Ne…