Any Shareholder requesting to sublet their apartment must own shares in the Corporation for a period of at least one year. The Sublet Application is available here or from the managing agent. The application requires personal and financial information needed by the Board to assess the prospective subtenant. This package must be completed in its entirety and returned to the Managing agent for review before it is presented to the Board and an interview is scheduled.
The Sublease Application Package requires the completion of certain required documentation assembled into seven (7) copies with one original. See the Sublease Application for details.
The following fees are payable upon submission of the Sublet Application Package (see application for details):
- $350.00 Processing Fee payable to The Lovett Company
- $75.00 Credit Report Fee payable to The Lovett Company
- $500.00 Move in/out Deposit, $500.00 of which is refundable.
Effective March 1, 2010, a sublet fee in the sum of twenty percent (20%) of the annualized maintenance must be paid together with the submission of the Sublease Application when a shareholder sublets their apartment. If a shareholder sublets for more than two years, whether concurrently or not, a fee of twenty five percent (25%) of the then current annualized maintenance must be paid for the third year and any subsequent years. If the Sublet is approved, this Sublet Fee is then non-refundable and if for example, the Subtenant vacates the premises prior to the end of the Sublease term for any reason whatsoever, there will be no refund of any pro-rata portion of the Sublet Fee. The check for the fee will be returned in the event the sublet is not approved. Check is to be made payable to: 200 East 16th Street Housing Corp.
The Managing Agent will notify the Shareholder of sublease expirations at least two (2) months in advance.
Please Note: All Sales and Subleases require Board approval. All Sale and Sublease packages and policies are subject to change.
Sublet Application (PDF, 64KB)