How does the building offering plan influence your lease

tale · August 2009

Hello,

I live in a building that has a backyard, and the board is saying that shareholders are not allowed to use it. This did not look logical to me as there is nothing in the proprietary lease or the house rules restricting such use.

Now they have dug up a building offering plan stating that only the caller apartment (Super) may use the back yard.

And said:"If the backyard is going to be used as a lounge area this would be a Board decision and the entire building would be advised and the building's insurance would be informed accordingly as this type of usuage does increase the building's liability. The back yard is not for the lounging of shareholders, it may be classified as common area but not an area for entertainment. i.e. the public hallway is a common area but tables and chairs cannot be placed in the hallway."

How does the building offering plan influence your lease if you did not purchase the sponsor apartment?

Thanks

brooklynjack · August 2009

The offering plan will tell you things about the building, like the Schedule A which lists all apts, no of shares and initial price. It doesn't really effect your proprietary lease, the lease is a part of the "Black Book".

In the end it is a board decision, if you want to change it you need to take over the board so you will need to rally your fellow shareholders. The by -laws of the corporation will tell you how to call a special meeting and special ellections

How does the building offering plan influence your lease

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