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Condominiums & Cooperatives Archives

Subletting rules at co-ops vary depending on tenant

As we mentioned in our last post, the major difference between a co-op and a condominium is the lack of property ownership for the buyer. With a co-op, the buyer gets stock in the company that owns the co-op, while also being allowed to lease housing there; meanwhile, someone who purchases a condo actually owns that particular piece of property. This gives the condo owner some freedom if they wanted to lease out their space to someone else.

Much to decide for co-op boards in New York City

Many New York City residents know the difference between a cooperative and a condominium; but most may not realize all of the work that goes on behind the scenes of these types of housing units -- especially co-ops -- that allows the buildings to properly function.

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