Bill > A03187

This bill prohibits the rental of unsold condominium or cooperative dwelling units upon vacancy, unless the original offering plan expressly allowed for such rentals and a majority of the condominium or cooperative members agree. The bill generally requires the sale of these unsold units. There are some exceptions, such as if the unit is intended for personal use by the owner's immediate family. The bill aims to address the issue of unsold dwelling units in condominiums and cooperatives being left vacant rather than sold.