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I rented an apartment in a building about 3 months a go that I was informed was a Co-Op by the broker, that was part of the reason I selected it. I love the neighborhood and the apartment and intended to buy into the co-op if the first year renting went well. When I rented this apartment I had no idea what an HDFC was, or that this was one.
I have been involved in a legal issue with my "landlord" that revolves around a lack of maintenance. When he failed to provide necessary services (no heat for over 3 weeks and a vermin infestation spanning every room) I opted to open an HPD case that has evolved into a civil suit. In light of an approaching trial date I have been doing in depth research on the buildings registration and history an eventually looked up what the "HDFC" meant that is in the title of the "management company".
I have read a lot about the laws regarding HDFC's and it seems this is being operated in stark contrast to the original intent. There are only two "owners" and one "management company" who operated the other 10 units and rents them at market rate. I accessed the original deed from the City of New York (from 1985) and it outlines that this will always be operated solely as a low income housing project. It also prohibits the sale, transfer, exchange or lease in whole or in part. There is also a clause stating there will be no dissolution of the HDFC.
The second mortgage has been paid off but it doesn't seem that the primary mortgage owed to the city has. It seems that this "management company" is violating the law. What avenues do I have to address this? How should I bring this to the attention of the court? What are the potential legal ramifications for myself as well as other tenants renting illegal shares?
I rented an apartment in a building about 3 months a go that I was informed was a Co-Op by the broker, that was part of the reason I selected it. I love the neighborhood and the apartment and intended to buy into the co-op if the first year renting went well. When I rented this apartment I had no idea what an HDFC was, or that this was one.
I have been involved in a legal issue with my "landlord" that revolves around a lack of maintenance. When he failed to provide necessary services (no heat for over 3 weeks and a vermin infestation spanning every room) I opted to open an HPD case that has evolved into a civil suit. In light of an approaching trial date I have been doing in depth research on the buildings registration and history an eventually looked up what the "HDFC" meant that is in the title of the "management company".
I have read a lot about the laws regarding HDFC's and it seems this is being operated in stark contrast to the original intent. There are only two "owners" and one "management company" who operated the other 10 units and rents them at market rate. I accessed the original deed from the City of New York (from 1985) and it outlines that this will always be operated solely as a low income housing project. It also prohibits the sale, transfer, exchange or lease in whole or in part. There is also a clause stating there will be no dissolution of the HDFC.
The second mortgage has been paid off but it doesn't seem that the primary mortgage owed to the city has. It seems that this "management company" is violating the law. What avenues do I have to address this? How should I bring this to the attention of the court? What are the potential legal ramifications for myself as well as other tenants renting illegal shares?
Any insight would be deeply appreciated.
IMO this issue is too complicated to get reliable assistance on this forum. Any attorney cannot advise you on this forum. You need real legal advice. Contact the Metropolitan Council on Housing.
Hello. i have lived in an HDFC building since 1986 and my rent has always been the same amount. however Ive noticed that my building has faced Alot of illegal actions over the last ten years. first id like start by saying that our old board of electors have depleted money from our buildings account and have remodeled their apartments. when a new board of electors came in position i thought things would be different it was not. we now have a squatter living in our basement and a tenant who claims to have a legit shareholders certificate. we have confirmed that it is illegal she then stated she is a illegal renter paying what shareholders pay we then found out that out of a 19 unit building more than half are illegal renters with no proof of ownership or legit rental agreements. we then found out that we have police officers and correction officers with multiple family incomes living in our building again paying what shareholders are paying. when a meeting was addressed our board of electors and president who is a police officer stated that there was nothing he could do and since then we have not had a meeting in three years we have requested to remove him and the other board of electors we have gotten the run around. also my daughter who lives with me and her children have asked for an application for an apartment as a renter she has been denied Alll four times however the board of electors gave these apartments to their relatives who are now renters. i feel as if my building is not complying with hdfc bylaws and i need some info as to whom i can speak with about investigating the issues in my building since our president is more concerned with the general public then the rights of the shareholders someone pls help.
Hello...though my situation is different then inkedlove & ana rivera, I'd like to say that the board members of the various HDFC developments are a bunch of crooks! In addition so is there management companies. BEWARE...their only goal is sell/rent to those with $$$. and lots of it! I was offered an apartment "as is is", which was totally gutted for $2-300k or rent a mint-condition move in ready apartment for $2500 per month. The kicker...the management company, building attorney & board treasurer worked together to bring in those that they want at the price they want which as you all know is totally illegal. They all have their own agenda! After 8 months of inquiring and requesting to rent and 2 months in contract with them to buy, they decided to sell it to someone else WITH CASH PAYMENT IN FULL without even notifying us. Inclusive, they had a $20K deposit of ours in escrow. Much legal action will pursue because I will not tolerate this illegal and unprofessional behavior. Not to mention that I believe we were racially discriminated due to the fact that there are NO LATINOS in this building whatsoever! Stay tuned...
I also discovered that the building I rent in is an HDFC building. I was under the impression that in HDFC building, there was no subleasing, and that for someone to have shares of the coop, it had to be their primary residence. If so, then who owns the apartment I rent? It's obviously not their primary residence whoever it is...
So what government entity is monitoring the activities of these HFDC buildings? Why are they allowed to run these buildings as they see fit?
I moved into a nightmare in June 2011. I had great hopes of a productive environment. I figured if and when I moved out, I could leave the apartment in much better condition than how it was given to me. From day one the owner/manager of the building kept breaking into apartment on me. So bad that I was forced to call the police several times. By the second week, I was given a notice of eviction. Not sure why they continued to come into the apartment illegally, but I installed a security system to give some privacy and distance between us. The building has so many violations. There has never been any extermination in the four months I have lived here. Halls are never cleaned. Manager goes in my mailbox, so I am sure they have done this to others. It is run like a Talaban compound. During the hurricane, the management ran off without a word to the occupants. Can someone please explain?
If this is to be their primary residence, then how many are they allowed to have? If this program was put in place for "Low Income", why does the owner/manager have another unit in the building and a house in another state?
It seems that this "management company" is violating the law.
It seems that way to me too.
Getting HPD deeply involved seems the right way to go and I think a call to Christine Quinn's office might prove helpful.
What is your ultimate goal here, inkedlove? To buy in at a reasonable price? To continue renting? Or just to get the place cleaned up?
Have you spoken to the other two owners? Were they in on the ground floor? They might be a good source of info.
Is it posssible that the "management company" bought out all the other tenants, probably illegally, and is running the place as a market rental, probably illegally, given the immense number of tax benefits these HDFC's have gotten.
Contact the HDFC council, a volunteer organization for help.
Gotta love the line:
Quote:
Reyes-Montblanc spoke with The Cooperator recently and said - half-jokingly - that he's been in this business for over 15 years and he still doesn't understand everything there is to know about HDFCs.
Last edited by Kefir King; 10-18-2011 at 06:53 AM..
This was a curious thread. Does anyone have any updates?
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