The New York Times article by Ronda Kaysen, “Is It Worth the Risk to Sublet an Apartment Illegally?,” discusses a possibility that many unit owners in co-ops and condos may have considered: can I get away with subletting my unit without my co-op or condo’s approval?[1]
As you may have guessed, the answer is no.[2] Kaysen approaches the issue via the dilemma of a tenant who wished to extend her sublease by continuing to live in a unit without the Co-op’s approval.[3] Unfortunately for the tenant, the unit owner would likely be brought into turmoil with the co-op board, pressuring the unit owner to force out the tenant.[4] Some of the methods a co-op or condo can reprimand a shareholder for subleasing their unit without board approval include:
- Fines;
- Suing the shareholder; and
- Forcing the sale of the apartment.[5]
All of these tools a co-op or condo may have in their arsenal are likely very unappealing to you as a shareholder. We strongly urge that you abide by your co-op or condo’s rules to avoid such reprimand.
If you wish to view Kaysen’s full article, please find it here:
Notes:
[1] Ronda Kaysen, Is it Worth the Risk to Sublet an Apartment Illegally?, The New York Times (Oct. 29, 2022), https://www.nytimes.com/2022/10/29/realestate/illegal-apartment-sublet.html.
[2] Id.
[3] Id.
[4] Id.
[5] Id.