A sublet tenant (Ed) complained to our board about the SH of his apt. We told him the matter is between them but I'd like to know what some of you think.
Ed's sublet expires in May. He wants to renew for one more year. He told the SH he's looking to buy a place but he doesn't know when he'll find one. It could be a few months from now. He told the SH he'll give him 3 months move-out notice. The SH also wants Ed to pay 2 months rent if he leaves during the next year's sublet lease period.
Ed claims the SH has no right to ask for 2 months rent if he moves out early and he doesn't want to pay it. The board didn't tell him this but we don't think it's unfair.
Again, this is between them but I have two questions:
1) Any opinions on the 2 months rent request?
2) If Ed agreed (in writing) to pay 2 months rent if he moves out early then refuses to pay it, could the SH keep his security deposit instead?
Appreciate any feedback. Thanks.
we had an illegal sublet in our coop which eventually ended after several years. . the apt. owner applied for and was granted a legit sublet but there is a rider attached to the agreement which gives 6% to our managing agent, Halstead (also a big broker) , if the apt. is sold to the tenants or anyone else. This does not, somehow, sit right.
Conflict of interest?
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We heard your concerns, and have responded by bringing back the old Board Talk.
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Thanks
Pres.
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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
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