Legal Question in Real Estate Law in New York
I have a CO-OP apartment in NYC that i'm currently renting. The board of directors have told me that i can no longer rent my apartment since i have exceeded the number of years allowed to rent. My two issues are:
1) My tenants are unable to move by the end of the lease (due to financial difficulty), and the board will not allow any type of extension to them. They have requested money to move or squat until they save enough money. As the owner of the CO-OP, my hands are tied b/c i can't negotiate with the tenants on a extension that would be a less expensive situation for everyone (i.e. going through a legal procedure). What can I do?
2) I have requested from the board, on multiple occasions an extension on the lease as well as allowing me to rent my CO-OP, b/c of the current environment and financial stress. It's a CO-OP, so there isn't much that i can do to fight the bylaws. Any recommendations?
2 Answers from Attorneys
You are between a rock and a hard place (as the saying goes). Unfortunately, the tenants must go. Therefore, at the end of the lease you will have to commence an eviction proceeding to remove the tenants. This should satisfy the cooperative.
In terms of fighting the cooperative, I really do not think there is much to do other than to sell the unit.
Mike.
As New York State law is very specific as to the exact wording required in these Notices and the manner in which they must be served upon the tenant, it is highly advisable to retain the services of an attorney experienced in these areas. We have handled many such cases, however, we would need some more information before making a complete and proper determination. You are welcome to contact us for a free consultation. We have substantial experience handling these types of cases, however, we would need some more information before making a complete and proper determination. You are welcome to contact us for a free consultation.
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