Coop apartments

ailene54February 11, 2014

Hi, I'm new to this forum, but not to GW. My daughter's bid was excepted on a coop studio apartment. She is excited, as I am for her. The apartment needs some work, and TLC, I think she will be happy. She is having it inspected. Is there anything she should know before proceeding? She knows about board approval, but I'm sure that will not be a problem. Is a coop like a house where if things aren't working it's the owners responsibility to fix? The electrical outlets in the kitchen I'm sure aren't up to code, the agent said she would have to fix it. There is a ceiling fan/ light fixture I'm sure isn't working do they have to fix/replace that like a homeowner would? Basically I'm wondering what is their responsibility? Thanks in advance for your help.

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camlan

It sounds like your daughter is buying an apartment in a co-op, if I read correctly.

Who is responsible for what repairs is most likely in the co-op agreement, which she should have been given a chance to read over before making her offer. If she hasn't read it yet, I'd suggest doing that first, as many of your questions should be answered by it.

If something isn't up to code, it does not necessarily need to be updated. Codes can change annually. A house built in 2004 is probably not "up to code" for the 2014 building codes, but it certainly doesn't need to be changed or updated. However, the co-op agreement may have some clauses about updating and keeping up to code.

If something in the unit itself isn't working, I suspect that the owner of the unit will need to get it repaired or replaced. Usually there is a clear division between what the co-op is responsible for and what the owner of the individual apartment is responsible for.

Generally, if, say, a toilet is clogged, the owner needs to fix it. But if there is a problem with getting water into the building, from the water mains, then the co-op is responsible for the repairs. Light in the common hallway? Co-op. Light in the apartment? Owner.

    Bookmark   February 11, 2014 at 2:56PM
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ailene54

Camlan thanks for the reply. She is having the apartment inspected on Friday, she was not given a coop agreement, but am going to tell her about that ASAP.

    Bookmark   February 11, 2014 at 5:22PM
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