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Three questions to ask before applying for a NYC co-op sublet or condo rental

06/05/2024 | NYC Rodeo |

Wondering why that co-op sublet is so well priced?

  1. Do I have 3-4 weeks to wait for the typical approval process wait time and a place to live in the meanwhile
  2. Am I ok if my application is inexplicably rejected and my $600-$1000 (approx.) non-refundable application fees are non-refundable
  3. Am I ok with a 1-2 year time-cap to remain at this address (most co-ops have a max time cap)

Why is only 1-2 years typically permitted on a co-op sublet:

it is a BANK driven policy which prefers that a minimum number of primary residents are subletting their co-ops to sublettors at any given time.

Deborah Miller writes from HARLEM.

NYCRODEO.com