Maintenance Increase Notice

No surprise that my co-op is raising both maintenance and storage fees citing rising insurance and fuel costs. But I was surprised by the short notice, which made me wonder if there were any requirements for notice. Would this be in the by-laws or proprietary lease? In hunting around elsewhere for New York regs I’ve seen everything from 30 to 90 days notice. Curious if there is any concrete answer to this.

decoart

in General Discussion 2 weeks ago

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decoart | 1 weeks ago

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Thanks for the responses!

brownstonerkid2024 | 1 weeks ago

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It really should be 90 days, looking around, haven’t found anything concrete yet.

decoart | 2 weeks ago

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If that came from the legal site I am thinking, I saw that too, but it is from 2019 and the act was updated in 2021 specifically to address co-op issues. So all those rental rules do not necessarily apply to co-ops.

cate | 2 weeks ago

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Was just reading about this. The required notification time varies depending on the shareholder’s length of occupancy. So, practically speaking, it might be best if co-ops just give everyone 90 days notice.