Sub-letting : 515 Edgecombe Cooperative

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).