http://jclist.com/modules/newbb/viewt ... id=280869#forumpost280869

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http://www.nytimes.com/2011/11/20/rea ... 89-9lrdcKTqvMQ21U1ALHJRSQ

"People are willing to pay astronomical rents, especially for elegant New York City properties,? said Gary Malin, the president of Citi Habitats. ?There?s a huge demand for luxury rentals, but also a lack of inventory, especially because there?s so little new construction"

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http://www.nytimes.com/2011/11/20/rea ... .html?hpw=&pagewanted=all

The reality is that most co-op boards are against subletting in their buildings, Mr. Saft said. ?When people are spending a million, two million, five million on an apartment,? he said, ?they don?t want the building being used as a hotel where people are constantly moving in and out.?

Have you read the by-laws of your association? I'm also on the board of 60 unit building. Our by-laws have certain requirements to be met when a condo owner rents out their unit. We have not enforced these requirements yet because we have not been experiencing any problems. However I am concerned that in the future we could find too many owners renting out their units resulting in the types of problems you are describing. I am also concerned about renters deciding to get roommates or otherwise sub-let their units without the absentee unit owner's permission.

One of the "rules" in our by-laws says that the board needs to vet any proposed renter. But like I said we have not enforced this rule so far.

So make sure to check the details of your by-laws as well as the condo public offering statement to see what tools are already at your disposal.

I would come up with an amendment to the bylaws instituting fines for infractions. Start small, then work up as the infractions increase. Make the units owner responsible for the fees, and one of two things will happen: either they will make the renter responsible for any fines incurred, and/or seek new tenants at the expiration of the lease.

I'm on the board of my Condo Association - we are a 50 unit building in the Heights.

Recently, it seems more and more owners have moved out and rented their units, and we are experiencing a rise in 'quality of life' problems - the renters being less responsive to complaints about noise, lack of carpeting, people not separating their recycling etc.

In addition to the quality of life aspect, there is the BIG issue of FHA conforming mortgages. We happen to be looking to replace our managing agent, but in addition to suggestions from them are seeking feedback, advice, etc., from others like you who may have been in the same situation. Can the absentee landlord/owners be compelled to accept changes that benefit resident owners? How does this happen - would the association need to vote? Would a competent managing agent be on top of this, or is up to the Board?