Rossmoor NJ coop question (sublets, condo, buying)

[moutaindude]

Hello All,

My wife & I are considering getting a coop in Rossmoor, Monroe for my 80 year old mother-in-law. She is on a very limited soc security income so we are thinking of buying it for her. The coop would be under our name and we would pay all monthly fees although we wouldn't live there. Does anyone know whether this is allowed? I hear there are rules that require owners to live on the property.

Thanks a lot!

[jaymoney]

I'd think that the rules would be dictated by individual co-ops. So, you'd have to ask each one.

[Jackal1]

Most co-ops have rules and limitations on sublets. Letting an immediate family member live there with no money exchanged is generally accepted with no aboard approval in most co-ops I have dealt with. Like always your mileage may vary and it's best to check with the co-op.

[Mightyqueen801]

Originally Posted by moutaindude

Hello All,

My wife & I are considering getting a coop in Rossmoor, Monroe for my 80 year old mother-in-law. She is on a very limited soc security income so we are thinking of buying it for her. The coop would be under our name and we would pay all monthly fees although we wouldn't live there. Does anyone know whether this is allowed? I hear there are rules that require owners to live on the property.

Thanks a lot!

My sister and her husband rented a co-op at Rossmoor before they bought a condo there (both forms of ownership exist at Rossmoor). So, if they allow tenants, it seems that they would allow a family member of the owners. Probably best to ask and confirm.

[moutaindude]

Thank you all for the feedback!