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If a shareholder owns more than one apartment in the same building, are all considered the primary residence? This impacts occupancy and sublet rules.
Join the Conversation Comments (2)Who would be allowed to live in the apartments that are not the primary residence?
In my opinion, if not the shareholder owner, and possibly family members (depending on the wording of the proprietary lease), no one else would be allowed to live there without the approval of the board. I think at best they could sublet the additional apartments, and that would require board approval. Otherwise they would have to remain empty.
interested in who is living in the other co-op and how they have been justifying the other people's occupancy. The proprietary lease only speaks of the occupancy of 1 apartment.
Besides the obvious non-primary occupancy like a legal sublet or holding on speculation, there are a few other allowable reasons. In my building there is one large family that owns two adjoining units. They have plans to eventually combine the units (we allow this). Until then, the parents live in one unit and the kids in the other.
Another allowable multiple ownership is the second unit serves as an "office" for someone who works from home. Lots of space and good tax benefits. As long as there is no client or customer traffic and no abnormal package deliveries or other building service disruptions or overburdenings, we would allow it. The just can only claim one of the two units for the real estate tax abatement.
I agree with Marty. The managing agent would also have to know which is the primary residence and which is not because it affects the distribution of the annual Dept of Finance real estate tax abatement. The abatement is only available to apartments which are a primary residence.
1. Shareholders holding 3 or less stock certificates in the same building can receive a real estate tax abatement - if they are using all 3 apartments (office, guest room, etc.) If they sublet any of the units than that unit is not primary. The units do not need to be combined or contiguous. see: http://www1.nyc.gov/site/finance/benefits/landlords-coop-condo.page. If they are all being used by the shareholder and not sublet to others than they can all be considered the primary residence. Many people combine apartments and do not combine the stock.
2. Tax Return address determines where your primary apartment is. Not drivers license or voting registration.
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Only one of those apartments is the primary residence.
Ask the shareholder for his drivers license. For me, that will show his primary residence.
He can’t show multiple apartment numbers on his drivers license...he can only show one - the one that is his primary residence.
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