< Return to Talk
07.02.08, 12:06 PM General Topics
17 replies
going on co-op board interview tonight. Hate them so much...anyone have a related funny story to share? [ Reply | Watch | Flag ]
General Topics 07.02.08, 12:06 PM Flag
 

Dear UrbanBaby community,

Thank you so much for being a valued member of the UrbanBaby community. We wanted to inform you that we are shutting down the site on July 6th. We are grateful for your participation and support that has helped make UrbanBaby such an important resource to parents for many years.

If you have any questions or concerns, you can email us at urbanbaby-support@cbsinteractive.com.

Thanks so much,

UrbanBaby Support

»
BIt of a Hijack - sondiering buying for the first time - probably coop. What should I expect in terms of our ability to rent the unit out if we lose our jobs and need to move before we are ready to sell given market conditions? [ Reply | More
]
General Topics 07.02.08, 12:07 PM Flag
»
no way to say. every one has different rules. Ive mostly found you have to live in the unit for a certain amount of time before renting, and can only rent for a certain period of time before you have to live in teh unit again [ Reply | More
]
General Topics 07.02.08, 12:10 PM Flag
»
Do you know what expectation is for the one you are buying? BTW good luck. [ Reply | More
]
General Topics 07.02.08, 12:11 PM Flag
»
thanks. if you hang on a minute Ill check the house rules - i have them right here [ Reply | More
]
General Topics 07.02.08, 12:12 PM Flag
»
^^ it actually doesnt say, sorry. but my current bldg is live in it for 1st 2 years than you can rent out for 1 year, then you have to come back, but I dont know how strictly its enforced [ Reply | More
]
General Topics 07.02.08, 12:15 PM Flag
»
thanks for this. I am so nervous about being a first-time buyer in this market. I also prefer older buildings, most of which are coops. [ Reply | More
]
General Topics 07.02.08, 12:19 PM Flag
»
most seem to limit the # of years you can rent to 2 yrs [ Reply | More
]
General Topics 07.02.08, 12:12 PM Flag
»
If you're really concerned about this don't by a coop. Buy a condo [ Reply | More
]
General Topics 07.02.08, 12:13 PM Flag
»
most people would opt for a condo over a co-op if they could afford it [ Reply | More
]
General Topics 07.02.08, 12:16 PM Flag
»
if you look at all the charges many "more expensive" on the sticker condos will end up being the same price as a less expensive coop (maintenance, taxes, etc) [ Reply | More
]
General Topics 07.02.08, 12:17 PM Flag
»
condos can be pretty strict too. Many only allow a certain % to be rental because otherwise buyers won't be able to get mortgages as easily. [ Reply | More
]
General Topics 07.02.08, 12:17 PM Flag
»
interesting... my condo really doesn't care (and i am on the condo board) [ Reply | More
]
General Topics 07.02.08, 12:18 PM Flag
»
they are starting to care more and more as mortgage lending gets tighter. Mortgage for a primarily rental condo property is considered much riskier. [ Reply | More
]
General Topics 07.02.08, 12:21 PM Flag
»
that is true, but I don't know how many condos are now primarilyrental. Ours only has 1 rental unit and another currently trying to rent [ Reply | More
]
General Topics 07.02.08, 12:22 PM Flag
»
during the last RE market downturn, some co-ops were generous enough to extend the rental limit up to 4 years - esp. if you had a consistent tentant. unfortunately, the premise of a co-op is to create a community of owners and not investors, so they are never going to be that flexible. ultimately, if you need to move, you will most likely need to sell within a coupld of years. [ Reply | More
]
General Topics 07.02.08, 12:33 PM Flag
»
they aren't going to be able to afford to be generous with this downturn (if it ever hits NYC). I've seen a bunch of articles in the Washington Post about how in DC people are getting screwed because they assumed that they could rent out, and now they find out they can't because the boards are cracking down. [ Reply | More
]
General Topics 07.02.08, 12:38 PM Flag
»
well some boards are going to be PITA. OTOH, it is not in the co-ops interests for apartments to go into foreclosure or to be sold at bottom of the barrel/fire-sale prices because that drives down the value of everyone else's apartments too. [ Reply | More
]
General Topics 07.02.08, 12:47 PM Flag
Refresh » New Post »
Select Category
close [X]

close [X]

Select a Category (only 1)

category
Stages
Regions