Rochelle I'a…, Renter in Miami Beach, FL

rentable co-ops?? Is it possible?

Asked by Rochelle I'anson, Miami Beach, FL Fri Mar 29, 2013

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This question was asked from this property: http://www.trulia.com/property/3111859065-1301-Delaware-Ave-…

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Answers

7
George Eckerle’s answer
It depends on the rules of the particular co-op. I know of one co-op that permits rentals from day one. Since that co-op has a high investor ratio, investors need to pay all cash.
Many co-ops I know of permit renting after two years or so.
0 votes Thank Flag Link Fri Feb 28, 2014
Difficult at best! Better investments or rentals elsewhere!
1 vote Thank Flag Link Fri Mar 29, 2013
So the earlier comments are generally correct. Regarding the River Park Coop you are specifically requesting about there is no legal way to buy and rent out the unit immediately legal unless:

" the Leasing Committee deems
appropriate and persuasive for granting permission to lease,
in its sole discretion. It is provided, however, that any grant
of permission pursuant to this paragraph is subject to
approval of the Board of Directors as well."
-Chapter C: Leasing units
Members Manual 2013
River Park Coop

There area actually only 3 non condo units for sale in the SW area currently
0 votes Thank Flag Link Mon Dec 29, 2014
So the earlier comments are generally correct. Regarding the River Park Coop you are specifically requesting about there is no legal way to buy and rent out the unit immediately legal unless:

" the Leasing Committee deems
appropriate and persuasive for granting permission to lease,
in its sole discretion. It is provided, however, that any grant
of permission pursuant to this paragraph is subject to
approval of the Board of Directors as well."
-Chapter C: Leasing units
Members Manual 2013
River Park Coop

There area actually only 3 non condo units for sale in the SW area currently
0 votes Thank Flag Link Mon Dec 29, 2014
Hey Robert,


If you are interested in some co-ops,I know two that will be coming on the market in about two months or so depending on how quick the renovations are done. Please call me or text me at your earliest convenience. I can be reached at 202-378-0283
0 votes Thank Flag Link Sat Feb 22, 2014
No rentals are acceptable. If you are a buyer, this must be your primary residence.
0 votes Thank Flag Link Fri Mar 29, 2013
Renting a Co-Op varies per cooperative and is normally addressed in the bylaws. Most co-ops prefer owner occupants. We can always take with the co-op for this particular property if you are interested.

Tony Taylor, DC Real Estate Guy
0 votes Thank Flag Link Fri Mar 29, 2013
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