Home Ownership in New York>Question Details

Asktrulia32, Home Owner in Westchester County, NY

Hi i have ownership of a studio coop and i am trying to sublease/rent out the place,

Asked by Asktrulia32, Westchester County, NY Thu Aug 30, 2012

i went to the management company and went through all the requirements, like paying all owed fees, and getting credit check as well as getting board approval, now they came back with an approval on the condition that i pay a 200 dollar application fee and pay for attorney fees to draw up an agreement stating that if im ever 2 months behind on my arrears that all future payments from the subleasee goes directly to the management, now my real question is this, does this seem a bit of a stretch? i mean are they trying to string me along with all this extra fees just because i didnt have an attorney contact them arranging for the sublease? to me it doesnt seem very fair the conditions they set, especially after all the trouble they had me go through

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Phoward@crrnyc.ocm’s answer
If the co-op Board already approved the deal, then it seems to me, it is a deal. Unless there are rules allowing management to do this, which I doubt, it sounds like they are trying to trick you into paying fees, and having a chance to get more if the get their hands on the rent. I would speak to attorney. After he studies it, the attorney or you may want to speak to the Board. You should already be able to give the tenant the key and have them move in.
0 votes Thank Flag Link Fri Aug 31, 2012
The management company can request anything they want but a reputable company would act in a reasonable manner. Sounds like you had owed some fees in the past so they may be taking a careful approach to ensure that you don't just take the rent and stop paying your dues. It also sounds like this arrangement would stand up in court.
0 votes Thank Flag Link Thu Aug 30, 2012
Hi, coops have to protect themselves and so do you. If you feel you need an attorney try Anthony Casesse in White Plains 914 330 2816.

Chris
0 votes Thank Flag Link Thu Aug 30, 2012
You really should consider consulting with an attorney of your own....
0 votes Thank Flag Link Thu Aug 30, 2012
Hi. The request by the Co-op board is not unfair because they are only trying to protect their interest and the lease agreement will aggressively do just that. Therefore, you do not want to agree to any legal document without consulting an attorney to review the entire document. My real estate attorney is on Mamaroneck Avenue in White Plains and she is very good.

If you need help with the rental of the unit I am licensed in NYS and Connecticut. Call me with any questions to 914-299-0420
0 votes Thank Flag Link Thu Aug 30, 2012
Not having a lawyer does leave you open to being treated unfairly. You didn't have anyone to protect YOUR intrest. When your ready to sublet please contact me. I have clients that are looking to rent in the Westchester area

Douglas Cobb
646.812.7164
Douglasc@nestseekers.com
0 votes Thank Flag Link Thu Aug 30, 2012
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