Norma Bellino’s board at a 420-unit Manhattan co-op is dealing with a crafty serial subletter. It has fined the shareholder, but it seems his subletting business is too good to be thwarted by a monetary slap. What should the board do next? Phyllis Weisberg, a partner in Montgomery, McCracken, Walker & Rhoads, and Seth Sahr, a partner in Novitt, Sahr & Snow, team up to offer some strategies to undercut the subletter’s mini-business, ending it once and for all.
Thinking of buying a co-op or condo? Already bought, and not sure how co-op/condo life and rules work? Learn all about purchasing a place and living in your new community. It's not like renting, and its not like owning a house. What's it like?