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We are currently dealing with a renter, who owes more than $5000 in arrears in a coop owned apartment in NJ, rent is $1250/mo. We received a judgement against the owner, but no payment yet and we have been here before with them. Is there a way to not end up in this situation going forward, ie special wording in the lease to get out of the commitment? The renter passed the usual credit background check. Just wondering is there is a way to avoid this going forward and what other buildings do.
Join the Conversation Comments (1)The coop owns the units, we no longer have sponsors. Twice before since I have been involved with the Board have renters not paid and we have not been able to collect, even with a judgement. I want us to give the tenant notice, that she needs to find a new home as she clearly can't afford this rent. I don't know why we keep ending up in this predicament and it affects the daily operating expenses.
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I would think that failure to pay rent is grounds to terminate and evict the sub-tenant.
Is the unit owned by the Coop itself, or by the Sponsor? If it's owned by the Sponsor (or other entity) I'd think that the Sponsor is in breach of the Proprietary Lease.
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