One in Five Condo Units Are Sold to Investors (NY)

There’s a long list of reasons why many co-op and condo boards frown on excessive sublets in their buildings. The reasons range from the physical wear-and-tear of people constantly moving in and out, to illegal sublets, to shareholders’ difficulty refinancing their mortgages when renters outnumber owners. For most buildings, a high ratio of owner-occupied apartments is the Holy Grail.     Read the article………….


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