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Sponsor responsibilityNov 23, 2010


What is the sponsor with 12 unit in a co-op with 47 units responible to paid, does contribute money for heat, taxes, or plumbing.

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sponsors payment - dianne stromfeld Nov 24, 2010


The sponsor should be responsible for the same expenses per unit that shareholders pay. Items such as taxes and plumbing as you mention should be pro rated per unit except for any work done within a unit. That is the personal responsibility of the unit owner as is in most cases the heat. Check your conversion plan to see if there is an exclusion for the sponsor. If that is the case, you are stuck.

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