Occupants lease the land but own their trailers, which in recent years have fetched $50,000 to $90,000.
He pointed out, however, that co-ops are subject to many laws and regulations applicable to owners of buildings that lease apartments to residential occupants.
A "Since a landlord is under no legal obligation to return the deposit until such time as the lease expires and all occupants have vacated the space," said Lucas Ferrara, a Manhattan real estate lawyer, "the letter writer's landlord generally may rightfully retain the deposit until the apartment is vacated".
Typically, Mr. Weinstein said, the documents require the unit owner to provide information about the proposed lease and the proposed occupant "as the condominium board may reasonably request".
Mr. Acker declined to disclose the annual rent for the Columbus Avenue store but said that because Boyd's bought the previous occupant's lease, it is less than what it might have been with a new lease.
In two-family homes, owner-occupants typically lease their second unit, creating a rental market that is unusual for the Port Washington and Manhasset area, where the village is situated.
Some of the occupants have leases that do not expire until 2017, "but with minor incentives from us," said Nathan Berman, a principal at Metro Loft, "most tenants are finding that now is an opportune time to seek out new office space, since the market is still soft and they can get a good deal and enter into long-term leases".
While it's true that initial construction costs were higher, this cost was significantly outweighed by the near-term benefits of reduced operating expenses, accelerated lease-up and premium rent over the life of the occupant's lease.
In an apartment, you can be listed as a tenant (aka you signed the lease agreement) or an occupant (aka you live there, but you didn't sign the lease and are not contractually bound).
As Sears' stores close, Seritage can redevelop and lease the properties to new occupants.
Accept responsibility for barking dogs, unauthorized occupants or other lease violations that may have been inadvertent but the landlord felt were willful and intentional.
