Signed Lease, Worried About When Condo Board Approval Happens (tenants, renters, credit check)
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Hi all. In NYC, moving in with my boyfriend to a new place together in Manhattan. we saw the rental 3 days after it was posted, put an app in immediately last weekend. We were approved in a matter of a couple of days by the owner, signed the full lease Thursday and wrote out checks for security, first month, and broker fees, which are currently being held in a safe at our broker's company (very big NYC company, legit) until everything is done. She said 2 weeks until condo board approves. I know at this point they only have the right of first refusal, so we're prob fine, but we both need to be out of our respective places by Dec 1st (the date our lease starts). We would ideally like to move in the 29th or 30th since the 1st is a monday, and our broker said it likely won't be an issue, but the owner can't give us a yes on that until the board approves.
2 weeks would be the 28th (which is when the broker said we should know the latest) which is cutting it so close, and i have a truck reserved and friends expecting to come and help me on the 29th. Should I be worried about the close cut off time? Do condos generally take the full time to approve, when an owner already has/lease has been signed already? Am i paranoid for no reason? I am also concerned since Thanksgiving is the 27th and I'm sure that will interfere with time line. aaah!
You're not being paranoid but you're right to be concerned about potentially being delayed because of the holiday coming up. If the board decides to postpone or delay their monthly meeting until after Thanksgiving, that could foul up your timing pretty easily; unfortunately, it's a risk you run when renting in a co-op or condo. You'll probably be fine but just make sure your broker stays responsive with you throughout this process.
You are being paranoid. Funny my condo association would not rent to you and your boyfriend. My town has a No Grouper law on the books. Single family occupency only and since you and your boyfriend are not married no dice.
You are being paranoid. Funny my condo association would not rent to you and your boyfriend. My town has a No Grouper law on the books. Single family occupency only and since you and your boyfriend are not married no dice.
Funny, your condo association is likely in violation of the law. Even when there are regulations about unrelated people living together, they are generally for 4 or more people, and not for people who are living in a family unit or the "functional equivalent" of a family unit. Marital status is a protected class under federal law and you cannot discriminate against a couple living as a family unit simply because they do not happen to be married.
Funny, your condo association is likely in violation of the law. Even when there are regulations about unrelated people living together, they are generally for 4 or more people, and not for people who are living in a family unit or the "functional equivalent" of a family unit. Marital status is a protected class under federal law and you cannot discriminate against a couple living as a family unit simply because they do not happen to be married.
You're right - the poster is misinformed. In the jurisdictions where such a "Grouper Laws" exists, the term, "functional equivalent of a family unit" is key. The law does NOT mean that two cohabiting unmarried people can be refused tenancy.
This is true; we filled out our application and were seen in the eyes of owner and the board as a couple. Nothing was said about us not being married, and the tenants before us (who we got to meet when we saw the place as they were still in the process of moving out on the 15th) were an unmarried couple as well.
My condo has zero aproval process for renters. I dont have to tell them I am renting and there are no fees.
The town has a no grouper law. My current tenants are a married couple no kids yet very nice, have them two years. They were newly married "newlyweds" when I rented to them.
Since no application or approval I rent to folks who seem nice and wont be a headache and rather rent for less than market to get them.
My place in NYC I used to own and rented, the board could care less if couple was married weather renting or buying. And it was a coop with strict board approval. And that was in 90s.
As a landlord I am very very very cautious. I almost got suckered into renting to a PhD from Brooklyn who lived in a brownstone in park slop and had excelent credit. On the phone she mentioned she was a pschologist. Then she mentioned she sometimes works from home. On Amazon I found her two books she wrote and she treats mainly foks with sexual deviations and does court ordered sessions for pedophiles. Yes she wanted to bring pedophiles into my condo to do therpy sessions. Since that near miss I am super cautious. Goes to show credit checks and references are not enough.
I am sure you will be fine. Condo associatons are volunteer groups that are busy with their own lifes. Approving applications are not a priority and sometimes takes awhile. It is no reflection on if they say yes or no.
Thanks Sandy. I was just told that we couldn't actually move until we get board approval to. So that's my concern, is us being in a bind december 1st. But i do understand that their schedules and meeting process is out of my hands. I'm just hoping they do get back to us in the 2 weeks promised!
Thanks Sandy. I was just told that we couldn't actually move until we get board approval to. So that's my concern, is us being in a bind december 1st. But i do understand that their schedules and meeting process is out of my hands. I'm just hoping they do get back to us in the 2 weeks promised!
Your broker should have explained to you that you technically aren't still approved yet for the place; if the board denies your application (rare but it does happen) your lease becomes invalid and you will have your checks returned to you. Renting in a condo or co-op is a two-part process; first, the owner must approve you, then the board must do so. Generally, a board will just go along with the owner's approval but there have been plenty of instances when the board has issued denials to prospective renters.
Again, you should be fine, and I don't mean to stress you out, but you should have some sort of back-up plan in place, just in case the board meets late or denies your application.
Oh we know that it's not 100% given...but we also know its very rare that the board would deny our application, especially since they only have right of first refusal, which means they'd have to be spending their own cash to keep us out. We were also told by the management company that historically they've never invoked right of first refusal. We were reassured by management, broker and even owner to not worry about them doing so. Honestly not worried about that part at all. It's just a matter now of the WHEN.
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