Fordham Hill Owners Corporation
One Fordham Hill Oval
Bronx, New York 10468
(718) 365-9600 Fax (718) 733-0472
GUIDELINES FOR PROSPECTIVE PURCHASERS AND SUBTENANTS
The Board of Directors and the Management office are frequently asked questions regarding Fordham
Hill’s income and occupancy guidelines for prospective purchasers and subtenants. In order to assist persons
who are considering apartments at Fordham Hill, we have outlined below some of the guidelines that the
Board will follow when reviewing applications to buy or sublease at the Cooperative.
1. Income Guidelines. We have found that in order to cover the combined maintenance and share
loan obligations at Fordham Hill, an applicant must meet the Corporation’s minimum criteria based on a
uniform financial review. We apply these same guidelines to subtenants for additional security in case the Co-
op must collect rents directly.
Transfers of apartment between spouses (which do not require the consent of the
cooperative) are not affected by these guidelines. However, existing Fordham Hill shareholders
may wish to apply these guidelines in planning the distribution of their estates.
Applicants who do not meet these guidelines should note in their applications any special
circumstances that they would like the Board to consider (such as personal guarantees).
2. Owner Occupancy Favored. Fordham Hill favors owner occupancy. Generally, the Board will
consider purchase applications only for personal occupancy by the purchaser and members of the purchaser’s
immediate family. Applications for purchases with the intention of subleasing will usually be rejected, and
purchases occupancy by persons other than the named purchaser (including relatives of the purchaser) will be
scrutinized closely for harmony with these guidelines.
The Board also takes owner occupancy into account in considering sublease applications.
Among other factors, the Board will look at the length of the sublease, the frequency of
subleasing by the shareholder, and the reason for the proposed sublease as evidence of the
intentions of the shareholder to return to the unit.
Applicants who do not meet these guidelines should note in their applications any special
circumstances that they would like the Board to consider.
3. Occupancy Guidelines. The cooperative will not permit overcrowding within units in violation of
law. Fordham Hill classifies an apartment to be overcrowded when more than two individuals reside in a one
bedroom, four individuals reside in a two bedroom and six individuals reside in a three-bedroom apartment.
Children of opposite sexes may not share a bedroom.
We emphasize that these are general guidelines only. As stated in the proprietary lease, the Board
retains the right to approve or reject purchase or sublease applications for any reason, in its sole discretion.
Please feel free to contact the Management office if you have any questions.
THE BOARD OF DIRECTORS
FORDHAM HILL OWNERS CORP.
Effective: March 10, 2004