Prohibits upon the vacancy of an unsold condominium or cooperative dwelling unit, the rental of such unit unless the original offering plan provided for such rental and a majority of the members of the condominium or cooperative agree thereto; generally requires the sale of such units.
Prohibits upon the vacancy of an unsold condominium or cooperative dwelling unit, the rental of such unit unless the original offering plan provided for such rental and a majority of the members of the condominium or cooperative agree thereto; generally requires the sale of such units.
Provides that the assessment of residential cooperatives, condominiums and rental property shall not apply to certain condominiums unless such condominiums are participating in an affordable housing tax credit program or has a regulatory agreement.
Requires that the board of directors or board of managers of a converted cooperative or condominium, as the case may be, must be comprised of a majority of members elected by shareholders or owners in occupancy so that control of the converted cooperative or condominium is turned over to the unit owners as soon as possible; applies only to plans of 20 or more units.
Relates to assessments of residential cooperative, condominium and rental property; defines the term "the assessment which would be placed upon such parcel were the parcel not owned or leased by a cooperative corporation or on a condominium basis".
Creates the office of the cooperative and condominium ombudsman; authorizes the residential unit tax and establishes the office of the cooperative and condominium ombudsman fund.
Creates the office of the cooperative and condominium ombudsperson; authorizes the residential unit tax; establishes the office of the cooperative and condominium ombudsperson fund.
Creates the office of the cooperative and condominium ombudsperson; authorizes the residential unit tax; establishes the office of the cooperative and condominium ombudsperson fund.
Provides that assessed values of cooperative units and condominiums shall not increase by more than 3% in the two years following resolution of tax certiorari proceedings.