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NY A03231
Bill
Status
1/27/2025
Primary Sponsor
Jeffrey Dinowitz
Click for details
AI Summary
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Vacant unsold dwelling units in cooperative or condominium buildings must be offered for sale and cannot be rented unless the original offering plan disclosed this possibility or a majority of non-affiliated board members consent to the rental
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If a vacant unsold unit remains unsold and unoccupied for one year, the owner may rent it for up to one year, after which the sale-first requirements restart and continue until the unit is sold
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Owners who rent vacant unsold units must immediately provide the board with a copy of the executed lease and emergency contact information for both owner and tenant
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Exemptions apply to shareholders or unit owners who purchased for personal or immediate family use, and to units owned by the cooperative corporation, condominium association, or their entities
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Takes effect immediately and applies to all cooperative and condominium dwelling units that become vacant on or after the effective date
Legislative Description
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.
Last Action
referred to housing
1/7/2026