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Typically, longtimers carefully observe laws governing sublets.
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A Theresa Racht, a Manhattan co-op and condo lawyer, says that under the terms of most offering plans and co-op governing documents, sponsors reserve liberal rights to sublet any apartments they continue to own after the conversion, and that these rights may include permitting short-term rentals.
But whether the writer could sublet the co-op would depend upon the governing documents of its building.
Nowhere in the rules governing MLA living expense claims does it say explicitly that you aren't allowed to sublet your taxpayer-funded place of residence for private gain, so, really, Fildebrandt was just doing what any other reasonable capitalist would do under the circumstances.
A: Howard Schechter, a Manhattan co-op and condominium lawyer, said that it is fairly common for a condominium's governing documents to give a sponsor certain rights and privileges -- including an exemption from rules on sales and sublets that bind other unit owners -- and that these rights may carry over to those who buy such units for investment.
Mr. Luxemburg added that a New York court ruled last year that while occupancy of a unit by a family member if the shareholder does not reside in the apartment might violate the "restriction on occupancy" clause of the proprietary lease, it would not be governed by the subletting provisions, and thus would not give rise to a sublet fee.
It's governing.
Select governing board members.
Sublets of rent-stabilized apartments, she said, are governed by both the Real Property Law and the Rent Stabilization Code.
Ms. Barrack said that sublets of non-rent-regulated apartments in buildings with more than four rental units are governed by the state's Real Property Law.
The govern.
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