The Standard Form Of Cooperative Apartment Sublease is essential when a cooperative shareholder wishes to temporarily rent out their apartment while maintaining their ownership stake. This document is commonly used in major U.S. metropolitan areas, particularly New York City, where cooperative apartments are prevalent. It provides necessary protections for all parties involved, ensuring compliance with cooperative bylaws, local housing regulations, and federal laws. The sublease must typically receive board approval and includes specific provisions regarding rent payments, maintenance responsibilities, house rules compliance, and termination conditions.
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Key Requirements PROMPT example:
Standard Form Of Cooperative Apartment Sublease
"I need a Standard Form Of Cooperative Apartment Sublease for my furnished two-bedroom co-op on the Upper East Side, which I want to sublet to a single professional tenant from March 1, 2025, to February 28, 2026, with all utilities included and a strict no-pets policy."
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1. Parties: Identification of primary tenant, subtenant, and co-op corporation
2. Background: Context of the sublease arrangement and reference to master proprietary lease
3. Definitions: Key terms used throughout the agreement
4. Term: Duration of sublease and any renewal options
5. Rent and Additional Charges: Payment terms, amounts, and due dates
6. Security Deposit: Amount, terms of holding, and conditions for return
7. Use of Premises: Permitted uses and occupancy restrictions
8. Compliance with Co-op Rules: Obligation to follow cooperative's regulations
1. Utilities: Provisions for responsibility of utility payments when not included in rent
2. Furnishings: Provisions regarding furnished items when apartment includes furniture and equipment
3. Parking: Terms and conditions for parking rights when parking is available
4. Pet Policy: Specific rules and restrictions regarding pets when relevant to the property
1. Schedule A - House Rules: Complete set of co-op building rules and regulations
2. Schedule B - Inventory List: Detailed list of furnished items if applicable
3. Schedule C - Building Services: List of included building services and amenities
4. Appendix A - Board Approval: Documentation of co-op board approval for sublease
5. Appendix B - Lead Paint Disclosure: Required federal lead paint disclosure forms
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