This By-Laws document for a condominium association contains information concerning: restrictions, the board of directors, and the advisary committee.
Rules For Condo Owners In Bronx
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Multi-State
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Bronx
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US-00452
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FAQ
Inium is a Latin word that means "Owning property together." That's what it is like when someone buys a condo unit. They have an "interest" in the land beneath the building, but the building's association owns the actual land.
To have a pleasant condo living experience, keep in mind these legal rights for condo owners. The Right to Access Condo Documents. The Right to Equality and Non-Discrimination. The Right to Notice and Meetings. The Right to Run and Vote During Elections. The Right to Protest.
The amount of time it takes to screen a tenant can take anywhere from a few hours to several weeks depending on your rental criteria. It all depends on how quickly the tenant submits their paperwork and how long you need to verify it.
The condo Board gets what's called the “right of first refusal.” But does this mean a condo Board can reject anyone without a fair or justified reason? Most definitely not. The Board cannot make any rejection without its presence being noted in the bylaws.
Under the Fair Housing Act, an association may not reject an applicant based on gender, age, race, country of origin or religious preferences. However, the association may deny the rental application if an applicant has a criminal background or poor credit.
Tenant Approval – Not the Board's Job The obligation to vet tenants rests entirely with the landlord, who also shoulders the financial consequences of a poor choice.
Homeowners' Associations in New York, or otherwise known as Common Interest Communities, are regulated by the Attorney General's office and must be set up as non-profit organizations. They are governed by NY Not-For-Profit Corporation Law, the Association's Articles of Declaration, and Bylaws.
Condo Owner Rights: The Right to Protest When board members fail to meet their fiduciary duties, condo members can remove the board members who are abusing their authority. Condo owners also have the right to protest any regulations that are discriminatory, unfair, or onerous.
Now, under the recent changes to the Martin Act, the conversion of small, owner-occupied housing is deemed a public offering, and such property owners will be required to file an offering plan before they can convert their property to cooperative or inium status for reasons such as estate planning or relocation ...
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The Cooperative and Condominium Tax Abatement reduces the property taxes of eligible condominium and co-op owners. All condo applications require a minimum of two condominium lots.The NYS Real Property Law requires any Condominium Declaration to be filed with the NYS Department of State. It's very possible that they are not following the bylaws. It's not uncommon for HOA boards to pass new standards, that are not legally binding. Our NYC condo owner rights attorneys are here to help you understand legal rights for condo owners to protect yourself and your investment. Yes, You cannot rent out an entire apartment or home to visitors for less than 30 days, even if you own or live in the building. When you are finished, you can print your completed form. How does the injunction halting the Corpoate Transparency Act effect New York condomniums and cooperatives? A compliance update for board members.