Belmont Chambers Cooperative

Frequently Asked Questions

Is there parking behind the building?
There are four spaces behind the building. They are rented to Coop Members first when they become available. At this time we do have a space available.

Does it cost anything to apply?
No. The costs of marketing and application processing are absorbed as part of the closing costs.

Is the building non-smoking?
Yes. Belmont Chambers is a non-smoking building, including individual units.

Why aren’t dogs allowed?
The Cooperative pet policy that only cats are allowed with the approval of the Board is based on our experience that cats don’t generally create problems for the general membership. In addition given the building size of the units, and our urban setting the Coop is not an ideal environment for dogs.

Can I take both the state rental tax deduction and the federal deduction for mortgage interest and property taxes?
Our understanding is that you can only take the federal deductions for mortgage interest and property taxes. A bill has been proposed in the Legislature to allow cooperative owners to take the rental deduction in addition, but its outcome has not been determined. Given the increases of the standard deduction over the last few years the impact of mortgage interest and property tax deductions are somewhat limited.

What is the financial structure of the building?
See this page for information.

Do I get condo or apartment Insurance?
The building is insured like an apartment building. The owners (the Cooperative) hold insurance similar to what a landlord would be required to have, covering the building and its infrastructure. You would need apartment insurance to cover your personal property, such as furniture and clothing.

Downloadable Forms and Documents

Below are downloadable documents and application forms. Most are in PDF format. If you don’t have a program that will read PDF files you can download Adobe Reader. They are provided as a convenience for applicants. We make every effort to keep this list up to date but cannot guarantee that they are the latest versions.