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These hazards can help you avoid making costly mistakes if you own a cooperative flat and want to rent it out to other people.
The cooperative residence does not belong to you as the user, but rather to the cooperative as a whole.
Because of this, cooperative apartment rental differs greatly from “normal” apartment renting in several ways.
So, what should you be on the lookout for?
An apartment in a cooperative
There are no longer any available rentals in the area, however it is still feasible to provide lodging for a charge in the Puncak Jalil area. As a result, a sublease will be entered into. A member of the cooperative, on the other hand, must get the written authorization of the cooperative before providing the sublease.
It is not feasible for us to rent anything to someone who does not own the item in question. This also applies to cooperative apartments, which are not owned by a single individual, but rather by a cooperative as a whole. A member of the cooperative is just a renter in the apartment, despite the fact that he owns a piece of the cooperative’s total property. A leasing agreement governs the relationship between a cooperative member and the cooperative in reference to a specific dwelling.
However, this does not rule out the possibility of a cooperative member renting out his or her flat to a third party for a charge. Sublease rather than lease will be used in this situation. Both the cooperative and the subtenant have constraints when it comes to the sublease arrangement. For example, a rental flat may only be sublet with the written agreement of the owner, who in this case is the condominium association.
The following is the definition of sublease under the new Civil Code:
If the tenant resides continuously in the flat, he has the right to sublease a portion of the unit to a third party, even without the landlord’s permission.
- The tenant may sublease his or her apartment or a portion of it to a third party only with the landlord’s permission.
- The tenant may sublet his or her flat or a portion thereof to a third party only with the landlord’s permission.
In order to be considered for the award of permission to sublease, the application and consent to sublease must be in writing. If the landlord does not respond to the application within one month, the permission will be presumed to have been granted; however, this does not apply if a sublease prohibition has been agreed upon by the parties.
You may be interested in the following: What to do if a renter fails to pay the rent as a result of a coronavirus outbreak and quarantine. If the tenant sublets the flat or a portion of it to a third party in contravention of the terms of Sections 2274 and 2275, he will be in flagrant breach of his contractual obligations to the landlord.