Will Co-op boards finally be made to give potential tenants their reason for rejection? It seems that there is a light at the end of the tunnel — co-op boards might soon be made to cough up an explanation. If you’re an owner or a possible buyer of a co-op apartment in New York City, this could be the bill you’ve been waiting for. But experts warn that we shouldn’t hold our breath. Tom Soter of Habitat Magazine interviewed attorney Stuart Saft to get to the core of the issue. With applicants getting rejected, and owners eager to sell, it puts undeniable pressure on co-op boards.
If democratic councilman Hiram Monserrate has his way, co-op boards may need to answer for their actions or face penalties. Saft explains that the problem of unfair practice by board members is not citywide, and is only limited to few complaints per year. Discrimination or not, it seems that The Human Rights Commission wants boards to state the reasons why they turn somebody down. However, this is limited to cases that are brought before them. For those that are considering buying into a co-op, or are on the board of a co-op, you may want to see how this plays out – especially seeing that the bill would call for personal liability for board members. If you’d like to post your comments or experiences on the subject, we’d be happy to hear from you.