renting a co-op

is it safe to do this? I mean even if the lease is for one year, what if the owners want to sell it while you're still there. does that mean my lease would be broken>

Re: renting a co-op

We were just in that situation- the ower of my rented co-op was a managment company - and they made a deal to sell them to the co-op board- to that they could resell them- and get all the renters out

while we hated the place- we had to live with there rules- and had no representation (couldn't go to board meetings) we were more or less treated like 2nd class citizens

they had to hold up our lease- but towards the end they gave a hard time- and we moved out early

my main gripe- is I spent a TON moving in there- between all the fees- $175 to move in (only a week day) plus 1.5 months rent to the real estate agent- was too much for only 1 year
had I known that was going to happen- I would never have lived there- which would have been alot better in the long run

Re: renting a co-op

I just rented my co-op. It's no different from a regular lease, I can't sell it while my renter is still living there. The co-op does not allow that and only allows one year leases to start. There are rules, but no different from any apartment building. Owning a co-op is like renting cause you have to answer to the management, so it would be no different for the renter.