- Jurisdiction
- New York
I own a condo in NYC. It's a small building. I've been renting out my unit for almost 10 years. There is an annual rental fee of $1000. All leases are 12 months in length except. the most recent lease.
1. The first renter stayed for 2.5 years and asked to leave mid lease b/c she was getting married. The condo board agreed to allocate 1/2 of the already paid rental fee to the next renter.
2. The next renters stayed 5.75 years - leaving b/c they were expecting a baby and needed more space. The condo board refused to apply the 1/4 already paid rental fee to the next owner. Their point was that a) they should never have credited me for the already paid rental fee to the next owner. b) there is wear and tear on the building when new renters move in. After some back and forth I agreed to forfeit the already paid fee. It was only $250. Plus the condo board needs to approve my tenant - so any delay would cause a much larger financial loss.
3. I signed the next and current tenants to a 14 month lease to ensure future renewal happens in the summer. (More demand in warmer months). I paid the 1000 fee. The rental fee was recently due and I paid 2 months of rental fee (~$200) and told the condo board I would pay the full 1000 when the tenants renew. This way, the rental fee and the renewal are in sync. The board returned the payment and requested I pay the full 1000. If the tenants don't renew this year or any future year I will forfeit ~800. This seems a bit punitive and strikes me as a money grab.
The actual language of the by laws : "Each Owner who rents his/her Apartment Unit must pay an annual rental fee of $1,000.00 to Condominium at the start of and each anniversary of the rental"
Any advice on how to handle this? The board has not held annually required board meetings or elections since 2021. They also haven't sent out financials since 2021.
1. The first renter stayed for 2.5 years and asked to leave mid lease b/c she was getting married. The condo board agreed to allocate 1/2 of the already paid rental fee to the next renter.
2. The next renters stayed 5.75 years - leaving b/c they were expecting a baby and needed more space. The condo board refused to apply the 1/4 already paid rental fee to the next owner. Their point was that a) they should never have credited me for the already paid rental fee to the next owner. b) there is wear and tear on the building when new renters move in. After some back and forth I agreed to forfeit the already paid fee. It was only $250. Plus the condo board needs to approve my tenant - so any delay would cause a much larger financial loss.
3. I signed the next and current tenants to a 14 month lease to ensure future renewal happens in the summer. (More demand in warmer months). I paid the 1000 fee. The rental fee was recently due and I paid 2 months of rental fee (~$200) and told the condo board I would pay the full 1000 when the tenants renew. This way, the rental fee and the renewal are in sync. The board returned the payment and requested I pay the full 1000. If the tenants don't renew this year or any future year I will forfeit ~800. This seems a bit punitive and strikes me as a money grab.
The actual language of the by laws : "Each Owner who rents his/her Apartment Unit must pay an annual rental fee of $1,000.00 to Condominium at the start of and each anniversary of the rental"
Any advice on how to handle this? The board has not held annually required board meetings or elections since 2021. They also haven't sent out financials since 2021.
