Questions about co-op subletting

[mathjak107]

..... your not understanding . no subletting means the tenant who holds the lease or the co-op owner who holds a lease is leasing to another.... a sponser renting apartments or an investor getting his shares from the sponser and not living there is not considered a a tenant . they are allowed in most non eviction conversions to freely rent out or sell to whomever they like with no board approval. they are the same as the owner of the building who owns the un-sold apartments. they are not subject to no subletting rules because they are not subletting. whomever they rent to or sell to are considered primary tenants. they need no board approval either,thats the perk of being the sponser or getting a transfer of shares from the sponser as an investor would .

thats what we are trying to explain to you. they are exempt from the rules that govern everyone else and they are allowed to do this by law. the co-op laws allow them to put in the offering the very fact that they are exempt from the rules and almost all the conversions i have seen do exactly that in their offering prospectus.


it has nothing to do with leases. these are clauses in the buildings offering prospectus.

read the links again, your still not understanding what we are explaining to you. bluedog maybe you can explain it to him.