They’re weird! Simple version: If you own a co op you own a share in a building, and you have to follow the rules set up by your neighbors who are trying to maintain the highest value of the building for all shareholders (owners) by not allowing riskier sublettors and conditions that would require more maintenance. Negatives: have to be able to pay more cash down than condos might require and let board see your finances, may take longer to sell.
BooksIsPower t1_j9mqss5 wrote
Reply to comment by sourcherrysugar in Monthly Discussion Thread - Month of February, 2023 by AutoModerator
They’re weird! Simple version: If you own a co op you own a share in a building, and you have to follow the rules set up by your neighbors who are trying to maintain the highest value of the building for all shareholders (owners) by not allowing riskier sublettors and conditions that would require more maintenance. Negatives: have to be able to pay more cash down than condos might require and let board see your finances, may take longer to sell.