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March 2, 2016

New York Law Journal

Fines and sublet leasing fees are important mechanisms by which co-op and condominium boards encourage compliance with rules and regulations, manage the size of a building’s transient rental population, and generate revenue to offset maintenance increases or capital
expenditures. However, for these fines and fees to be effective, boards must ensure that courts will not strike them down if challenged by an owner. 
This column updates our previous columns dealing with such fines and fees. This column also recaps leading precedents and analyzes recent cases. Lastly, we offer recommendations to boards and managers for maximizing the enforceability of fines and fees.

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