Sublease Application - The Lovett Group of Real Estate Companies

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Sublet Procedure Subletting is discouraged except under extreme circumstances. If it is necessary to sublet your apartment a sublease package must be requested from the Managing Agent. The package contains both personal and financial information required by the Board on your prospective subtenant. This package must be completed in its entirety and returned to the Managing agent for review before it is presented to the Board and an interview is scheduled. The Sublease Application Package requires the completion of certain required documentation assembled into seven (7) copies with one original. See the Sublease Application for details; please contact Management for the most recent Sublease Application. The Following Fees are payable upon submission of the Sublet Application Package (see application for details): $350.00 Processing Fee payable to The Lovett Company $100.00 Credit Report Fee payable to The Lovett Company $750.00 Move in/out Deposit, $500.00 of which is refundable. Upon approval, payment of a sublet assessment equal to one month’s maintenance is charged for each approved sublease term. The sublet assessment must be paid each year, even if the Board authorizes the same tenant to remain in your apartment. The Managing Agent will notify the Shareholder of sublease expirations at least two (2) months in advance. Please Note: All Sales and Subleases require Board approval. All Sale and Sublease packages and policies are subject to change. Security and Safety You are requested to follow the following procedures: 1. When you go away, please advise the superintendent in writing with written instructions on the collection of your mail and newspapers during your absence. 2. While you are away, visitors will not be permitted to enter your apartment unless you have left written authorization with the Superintendent. This includes caretakers of plants and animals who may visit the apartment on a daily basis. Any visitor staying in your apartment more than thirty (30) days will be considered a sublet and you must follow the rules for subletting outlined in the Sublease Application Package. 3. Always leave written instructions with the Superintendent if workmen are to be admitted to your apartment. These instructions must include the names and the date and time that Revised 4/9/12 CCB 5 30
the workmen are expected. Under no circumstances can you give the keys to the main door to any workmen or visitors. 4. The building is in no way responsible for damage caused by your visitors or workmen and the cost of repairs will be billed to the responsible Shareholder/tenant. Any renovations or construction or construction to an apartment, which is sublet, must be approved by the Shareholder in writing. 5. Fire doors must never be propped open and stairways must be kept free of items likely to block the stairways. This practice not only endangers the lives of others, it is against the law. Recycling/Trash Compactors New York City has enacted strict guidelines for the proper recycling of certain items. Presently these include glass, plastic, aluminum cans, magazines, corrugated boxes and newspapers. All glass, plastic, aluminum cans should be thoroughly washed and brought to the landing on each staircase. The recyclable garbage is picked up every Monday; with regular garbage pick-ups on Monday, Wednesday and Thursday. Construction/Alteration Before you commence any construction in your apartment an alteration agreement must be requested from the Managing Agent and returned signed with the additional information listed below: 1. A sketch of a diagram of the work proposed, including the removal of walls, closets, cabinets etc. and a detailed written explanation of the work from the contractor 2. A Certificate of Insurance from a licensed contractor naming both 51 Fifth Avenue Owners Corp. and The Lovett Company as additional insured. This certificate should also list the general liability and workmen’s compensation limits of liability as well as the work, which the contractor is insured for along with the Shareholders name and apartment number. 3. A security deposit of $1,500 must be supplied for potential damage to building systems of the public areas of the building from the start to finish of all work proposed. Please note that only $1,250 will be refunded to you after all alterations have been completed and deemed to be in compliance with the Alteration Agreement. Alteration rules can be subject to change and you must refer to the Alteration Agreement. Please note shareholders will be charged $300 per week for building services provided to your contractors while doing renovations in your apartment. 4. A processing fee of $250 is payable to The Lovett Company, LLC for the review of your alteration documents in order for your to obtain approval. Revised 4/9/12 CCB 6 31
Page 1 and 2: Revised 4/9/12 CCB 51 Fifth Avenue
Page 3 and 4: TLC The Lovett Company, LLC Revised
Page 5 and 6: Revised 4/9/12 CCB SUBLEASE APPLICA
Page 7 and 8: 2. Bank: Address: Type of Account:
Page 9 and 10: STATEMENT OF FINANCIAL CONDITION Pl
Page 11 and 12: STATEMENT OF FINANCIAL CONDITION (c
Page 13 and 14: INSERT LETTER FROM SHAREHOLDER DETA
Page 15 and 16: INSERT THREE (3) PERSONAL REFERENCE
Page 17 and 18: Revised 4/9/12 CCB INSERT LANDLORD
Page 19 and 20: Revised 4/9/12 CCB Sublease Agreeme
Page 21 and 22: Revised 4/9/12 CCB Page 3 of 3 Resp
Page 23 and 24: Revised 4/9/12 CCB SUBLEASE ACKNOWL
Page 25 and 26: Table of Contents Introduction…
Page 27 and 28: emergency situations. If your apart
Page 29: A certificate of insurance must be
Page 33 and 34: Laundry The laundry room is located
Page 35 and 36: 21. Any consent or approval given u
Page 37 and 38: Revised 4/9/12 CCB W I N D O W G U
Page 39: NAME PLATE REQUEST Revised 4/9/12 C

Sublease Application - The Lovett Group of Real Estate Companies

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