Sub-letting

A share­hold­er may only sub­let an apart­ment with the express approval in writ­ing from the Board of Directors or the Managing Agent, and pro­vid­ed the share­hold­er has been res­i­dent for at least one year. The max­i­mum peri­od of the sub­let shall be for one year. Applications to extend the sub­let for sub­se­quent peri­ods beyond the ini­tial one year shall be sub­ject to a re-appli­ca­tion process and fee. Any share­hold­er wish­ing to sub­let their unit shall pay the Cooperative a Sublet Fee. That fee shall be the equiv­a­lent of one month’s main­te­nance for the said unit for each peri­od of sub­let. (Adopted by a res­o­lu­tion of the Board on 12 September 2005).