Posted on: April 11, 2021 07:21 PM

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NY coming out with a new rule for Co op but not condo

The Assembly and Senate in NY are working on a new rule for all NYC Co-op to disclose why potential tenants or buyers will be rejected. Co-op boards can deny anyone without reasons not protected by laws. The bill will hit the floor in the coming days sponsored by Brian Kavanagh, Senate member. Under the bill, the board must disclose in writing why the denial. The same proposal has been introduced but failed but this time with progressive control in both chambers will likely to pass. A vote is expected in the coming months with heavily support from progressives to allow all to live in Co-op without discrimination. As for condo, there are no rules as long as money is coughed without squeezing.