First, Ed is looking for his convenience, not the shareholder's convenience. Both should iron out a compromise, but it's not up to Board to provide an opinion if the shareholder is being greedy or Ed is trying to negotiate the best for his pocket.

The bottomline is that if Ed is trying to buy a condo, a house or a coop and it's hard to predict the date of the closing, etc. So, I don't know how ED is going to calculate when to give three-month's notice to the shareholder.

AdC

The Board should stay well out of any sublease situation, except to enforce any regulations regarding subleases and Shareholders (ie., the Board must approve all sublettees, a fee must be paid, etc.)

Getting involved is not legally wise for the corporation, and the Board should make it a policy to state its neutrality to all inquiries, from Shareholders and Subtenants alike.

Folks, maybe you misunderstood me. In my last posting, I said the board DID tell the tenant that his sublet issue with the SH is between them. The board is not involved and has no intention of getting involved in this.

I was just curious if any of you think:

1)it's unfair for a SH to ask a tenant for 2 months rent if the tenant renews for a year, with a good chance that he'll leave a few months into the renewal

2) if the tenant agrees to pay 2 months rent then refuses to pay if he leaves early, could the SH deduct the 2 months rent from the tenant's security deposit

Just interested in other opinions on these two points.

Thanks

Again, what I think is simple:

This is a matter of convenience among two parties that has nothing to do with the co-op. Hence, why even think about it. I would rather spend my valuable time in trying to do something productive for the co-op.

AdC

A very good point, AdC.
Board member is neither "Information bureau" nor a mediator.

Feona

You are absolutely right, RLM.
Why would the tenant approach a Board member with his complaint? It looks like this apartment sponsor owned - so let him handle it. I don't think it is any business of the Board to get involved. AdC is right, too - "If not of concern why worry". If your curiosity is satisfied and you get answers from this site I would not advise you to deliver the obtained information to the tenant in question if you don't want any troubles.

Feona

many coop have short term sublets. For, say, sixth months. This would solve your problem. Change your house rules. This is espcecially good for professors who often go away afor six months at a time and cannot afford not to sublet.

Many also allow , say, 2 year out of every six of ownership.