The Washington times., 1925-05-16
COOPERATIVE
APARTMENT
Bates Warren Again Tells
Times Readers About New
Home Ownership Plan

Cooperative apartments continue
to be of interest to Washingtonians
Judging from the number Of ques-
tions being asked and the large
number Of sales made during the
! past week, Bates Warren. of M. q
r. B. Warren, reports that his
office has had an unusually good
week. Mr.. Warren, desiring to be
of as much service as. he can has
again answered several questions
concerning cooperative apartments
They are as follows:
In what sense does the tenant
owner control his own apartment?
Matters relating to a particular
tenant-owner's apartment are con-
trolled by the tenant-owner OF the
apartment involved.
A tenant-owner's position might
be compared to the position Of an
owner of a lot in a highly restrict
ed subdivision, or the owner of
property in a city which has a
coming ordinance. Such restric-
tions as are placed upon the use
of ones property are for the bene-
fit of the entire group of owners
Any worthwhile organization brings
people into one big whole and
smoothes out their differences for
the good Of that whole. 1t finds
it's chief value in the differences
that people show and in the toler-
ance that makes an asset of these
differences. In a cooperative pro-
ject the restrictions are in reality
an enforcible code of thoughtful
ness. They should be so drawn
that q tenant.owner can do any
thing that he would do II he were
considerate of the rights of his
neighbors.
A tenant-owner may alter the in
terror of his apartment so long as
he does not disturb the structural
parts of the building or his neigh
boris apartment. His personal con-
duct in the apartment is a matter
of his own disposition, subject to
the customary rules and regula-
tions OF any high-class apartment
building. He can sell or lease his
apartment at any time If his pur
chaser or sub-tenant does not de-
teriorate the character of the ten
ancy of the building.
What would happen IL one of the
should be unable to
pay his pro rata share of the up
keep after the building is in opera
ton?
The possession of his apartment
would be temporarily taken away
from him by the corporation and
the apartment would be rented for
his account. If he owned an indi-
vidual home and did not pay his
taxes his property would be inn
mediately sold.
What would happen If a tenant.
owner sold his stock without the
consent Of the corporation?
The proprietary lease would termi.
nate and the corporation would
then lease the apartment for the ac-
count of the new tenant-owner.
How can a purchaser of stock
this proprietary lease?
Only by being satisfactory to and
approved by the board of directors
of the corporation as a desirable
tenant and co-owner.
Inasmuch as the mortgage on the
property falls due before the leases
expire, what happens if 1t is neces-
sary to renew the old mortgage or
obtain new mortgage?
All the proprietary leases are sub
ject and subordinate to the original
mortgage on the property and to
any mortgage or mortgages in ex.
tension, renewal or substitution
thereof, but for no greater amount.
When the mortgage expires, who
reneWs it?
The mortgage is refunded by the
corporation. 1t must pay any
expense involved in refunding the
loan the same as any other prop
erty.
II the corporation has a Snrnlus