Was it Something I Said? Written Rejection Bill for Co-ops Gains Traction

Historically, co-op boards in New York City haven’t been required to provide much of an explanation to applicants about why applications for co-ops are rejected.

Many applicants with good financial portfolios, good references and good credit ratings are still denied an apartment, causing a lot of bad feeling and bewilderment. (Of course, there are situations where co-op applicants are told why they are rejected—in the case of a bad credit report, for example.)

In areas where condos are the rule and co-ops the exception—meaning most areas outside New York City and even an increasing number of areas within it—many people look upon the strenuous co-op approval process with trepidation and a little suspicion.

Now, the whole acceptance/rejection process may become a whole lot more transparent in the five boroughs. City Councilman Hiram Monserrate, D-Queens, has introduced a bill, known as Intro 119—“The Fair and Prompt Co-op Disclosure Law, “ or more commonly referred to as the written rejection bill—that would give co-op boards five days to give a rejected prospective buyer their reasons for the rejection.

The proposed bill requires that co-ops provide rejected applicants a written explanation, signed by an officer of the co-op, detailing each individual reason for the rejection of the sale. In addition the statement must include the number of applications received—as well as the number of applications rejected—in the three years prior to the decision in question.

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2 Comments

  • Oh porp 119 again ? Why don't we send people who are injured by discrimination to the Human rights Commission ? We are already protected. Discrimination can only happen once in a lifetime. For a very short time I was convinced that proposition 119 would change an ever growing situation in our communities that has debilated hard working families that have earned a small share of the american dream. A shareholder dream that can turn into an instant nightmare. The proposition 119 does not stop corruption from brewing nor does it stop anyone from discriminatory practices. This bill if analyzed correctly anyone with an understanding of discrimination knows that this crippling illness is stitched into every area of our society. What this proposition will do is one mask discrimination. Let's say this bill is passed , You apply to a co-op that's desperate for your large mortgage .In order to qualify and register the building from a rental to a co-op you have to lock in a few good payers . It's so much like a bait-switch some realtors are as low as cardealers. after they get your hard earned dollars your in. Now the game starts where a minority let's say hypothetically a hispanic or Pakistani couple move in. You now had to find a sponsor owned building because how else will these people get in ? You now will have a newly elected board hand picked by the management company who now has your dough. All of a sudden the harrassement starts so where are you with this proposition 119 ? It's also unconstitutional because your forced to have a diversed situation. Diversity a euphemism for a racial preferance.? Now we have yet another can of worms ,You get no help from board hired attorneys that you as a shareholder pay for and you sure better be careful of the humble advocates. because now you can't complain go back to step #1 prop.119 so where are we ? These are inventions and excuses for a society that will continue to brew discriminatory practices I believe that once this prop 119 is seen in true light it will be endorsed for it's harmlessness. We don't need prop 119 we need to monitor transactions of management companies and boards and the power over our monetary funds that they mismanage . We need to stop this absolute power of abuse that has been granted to the management companies that lure feeble minded board members to serve their interest hand in foot.
  • Agree, the management company and the coop board are biggest problem, when management company controls board, the nightmare begin. They can just do anything and get away anything. No law can protect those so called protected class. The local human rights commission will never actually against those property management company because they contribute their political Career.