Tenant pro 6 how do you unlink two apartments

In New York City, co-ops outnumber condos, with around 70% of the city's housing stock comprised of co-ops. Note: In both co-op and condos, your voting power increases with the size of your apartment.

But because a condo owner actually owns his or her unit (versus shares in a co-op corporation), a condo board canвЂ™t evict an owner from an apartment like a co-op board can. Yes, the board can fine owners for the expense related to any rule infraction and get a court-ordered injunction to stop it from happening again. That slightly more laissez-faire approach is partly due to philosophical underpinnings (more on that below) and partly because condo boards wield less legal enforcement muscle. Generally speaking, though, most condo boards tend to be more hands-off when it comes to rulemaking.

In a condo, individual owners elect a board of directors that perform many of the same functions as a co-op board. However, at least as many co-op boards are made up of volunteers with full-time jobs and families who try to make the best of what is a demanding and time-consuming role when one well. Overreaching, power-hungry co-op boards are the stuff of legend here, and some of the stories are true. Unlike condo boards, co-ops can even evict an extremely disruptive shareholder and force them to sell their apartment. The board also creates and enforces rules about everything from renovation inside units, to whatвЂ™s allowed to transpire on the roof deck, to whether you can speak on your cell phone in the lobby, or whether (and what kind of) dogs will be allowed in the building. In a co-op, shareholders elect a volunteer co-op board which (except in some very small buildings that choose to save money by self-managing) works with a property management company to oversee the care and maintenance of the building. That said, there are a number of quirks related to each, discussed below. This is the type of ownership almost everyone has in mind when they think about buying a home.ДЄfter you buy your apartment, you will largely find that its legal ownership structure has little impact on your use of it. You get a deed to the apartment that gives you ownership of the interior of your unit and the surface of its walls, as well as an undivided interest in the buildingвЂ™s common elements. In fact, technically speaking, buyers of co-op apartments are referred to as вЂњtenantsвЂќ or вЂњshareholders,вЂќ not вЂњowners,' and when legal issues arise, they are decided in accordance with landlord-tenant law, which typically gives co-op shareholders more protections than the laws that apply to condo owners.Д«uying a condo is very much like buying a single-familyВ townhouse. Instead of a deed, you will receive shares (stock certificates) in the corporation, and a proprietary lease that allows you to occupy a specific unit and lays down the rules and rights much like a lease in a rental building. In a co-op (short for вЂњcooperativeвЂќ), the entire building is owned by a single corporation.

Tenant pro 6 how do you unlink two apartments