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bostadsrätt

English translation: co-op

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15:15 Nov 9, 2003
Swedish to English translations [PRO]
Bus/Financial
Swedish term or phrase: bostadsrätt
Bostadsrätten till lägenhet nr xx-xxxx-x-xxx-x i bostadsrättsföreningen Holken
Paul Svensson
Local time: 21:27
English translation:co-op
Explanation:
"The co-op apartment is a distinctly New York institution, although this type of apartment also exists to some degree in Canada, Chicago, Philadelphia and other U.S. cities. When you “buy” a co-op apartment you do not really own the apartment. You are actually buying shares in the Co-Operative Corporation that owns the building in which the apartment is located, and you lease the apartment from that corporation. You pay a monthly sum to the corporation, called “maintenance charges”. Such maintenance charges include your apartment’s share of the building’s property taxes, maintenance and upkeep. Before you purchase the apartment you must be approved by the Board of Directors of the corporation, and the Board is free to reject you as a purchaser without providing a reason. Co-op Boards tend to require substantial financial disclosure from the purchaser before approval is given. Purchasing a condo is much more like purchasing a house. You purchase the apartment and pay property taxes directly to the County of New York. "
Selected response from:

Billy McCormac
Local time: 03:27
Grading comment
The description matches well with the rest of my document
4 KudoZ points were awarded for this answer

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Summary of answers provided
5co-opBilly McCormac
4tenant's owners rightHans-Bertil Karlsson
4commonhold of (not to)xxxKirstyMacC
4 -1condominium ownership
Lisa Lloyd
2tenant-owner's right ; right of tenant-ownership
Peter Linton


Discussion entries: 1





  

Answers


23 mins   confidence: Answerer confidence 2/5Answerer confidence 2/5
tenant-owner's right ; right of tenant-ownership


Explanation:
As suggested by FAR for BrEn. But though something similar exists in the UK (I live in one), the concept is less well known, so an explanatory phrase (eg about the bostadsrättsförening) may be needed, not just a translation.
Condominium for AmEn.



Peter Linton
Local time: 02:27
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 1432

Peer comments on this answer (and responses from the answerer)
agree  xxxKirstyMacC
9 mins

disagree  Billy McCormac: condo is not correct... see my answer
15 hrs
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31 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
commonhold of (not to)


Explanation:
... the flat (UK); apartment (US; tenement (Scot.).

The 'tenant-owner' - I'm one back in London - is called a commonholder (one word). Commonhold is modelled on the lines of the Am. condominium. Ref. UK Commonhold and Leasehold Reform Act 2000.

Otherwise, the residential right bears the GB hallmarks of 'a secure or assured tenancy' with security of tenure.


xxxKirstyMacC
Local time: 02:27
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 215

Peer comments on this answer (and responses from the answerer)
neutral  Billy McCormac: I'm not sure about Br Eng, but condo is wrong
15 hrs

neutral  Alison Dieden: Just want to point out that "tenement" is not the correct Scottish word. A tenement is a type of building in which you find flats.
15 hrs
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54 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
bostadsrätt
tenant's owners right


Explanation:
Enligt Wordfinder affärslexikon om man går bakvägen :-)

Hans-Bertil Karlsson
Sweden
Local time: 03:27
Native speaker of: Native in SwedishSwedish
PRO pts in pair: 570

Peer comments on this answer (and responses from the answerer)
neutral  Billy McCormac: see my answer
14 hrs
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15 hrs   confidence: Answerer confidence 5/5
co-op


Explanation:
"The co-op apartment is a distinctly New York institution, although this type of apartment also exists to some degree in Canada, Chicago, Philadelphia and other U.S. cities. When you “buy” a co-op apartment you do not really own the apartment. You are actually buying shares in the Co-Operative Corporation that owns the building in which the apartment is located, and you lease the apartment from that corporation. You pay a monthly sum to the corporation, called “maintenance charges”. Such maintenance charges include your apartment’s share of the building’s property taxes, maintenance and upkeep. Before you purchase the apartment you must be approved by the Board of Directors of the corporation, and the Board is free to reject you as a purchaser without providing a reason. Co-op Boards tend to require substantial financial disclosure from the purchaser before approval is given. Purchasing a condo is much more like purchasing a house. You purchase the apartment and pay property taxes directly to the County of New York. "


    Reference: http://www.nyc-apartments.net/
    Reference: http://66.102.11.104/search?q=cache:UlcBgsDRnhQJ:www.kevindy...
Billy McCormac
Local time: 03:27
PRO pts in pair: 335
Grading comment
The description matches well with the rest of my document

Peer comments on this answer (and responses from the answerer)
disagree  Lisa Lloyd: this is a specialised form of "bostadsrätt" - we actually have it in Sweden as well, but it's very rare. one of my friends lived in a co-op condo on Gärdet.
2 hrs

agree  EKM: My American translator friend who has been doing business in the real estate markets in Sweden and the US, uses "co-op" to translate "bostadsrätt" into American English.
2 hrs
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5 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): -1
bostadsrätt
condominium ownership


Explanation:
Condominiums:
There are three broad categories of home ownership: freehold, condominium and cooperative

Condominiums are typically a less costly alternative to owning a detached house. With a condominium, you own, and are responsible for, the interior area of your unit (everything from the plaster in). Upkeep of the building and grounds is handled by the
condominium association, which is funded by monthly fees collected from tenants. Condominiums often have strict rules regarding noise, use of common areas, renovations etc. Condo residents often enjoy less privacy than residents of detached homes.



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Note added at 5 hrs 12 mins (2003-11-09 20:28:42 GMT)
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detta är vad det heter i Nordamerika om jag har förstått saken rätt

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Note added at 18 hrs 7 mins (2003-11-10 09:23:48 GMT)
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Ytterligare information för att skilja på co-op och condo ownership.

What type of home ownership is right for you?
There are three broad categories of home ownership: freehold, condominium and cooperative.

Freehold Home:

Freehold homes offer the most privacy and freedom of choice of any other type of home. As owner of the entire structure and grounds, homeowners are free to decorate and renovate as they please. But with that freedom comes a lot of responsibility. All of the maintenance (indoors and out) is the sole responsibility of the owner, which can be costly in terms of both money and time. Freehold ownership is the most common type of home ownership.

Condominiums:

Condominiums are typically a less costly alternative to owning a detached house. With a condominium, you own, and are responsible for, the interior area of your unit (everything from the plaster in). Upkeep of the building and grounds is handled by the condominium association, which is funded by monthly fees collected from tenants. Condominiums often have strict rules regarding noise, use of common areas, renovations etc. Condo residents often enjoy less privacy than residents of detached homes.

Cooperatives:

Cooperatives (or co-ops) are comparable to condominiums, except instead of owning your unit, you own a percentage of shares in the entire building (or complex). As with condominium ownership, maintenance and repairs are paid for through the collection of monthly fees and you are subject to the rules and regulations of the co-op board. One drawback to living in a cooperative is that if you decide to sell your shares and move out, the co-op board has the right to reject your prospective buyer.





    Reference: http://www.daveney.com/buyers_ownership.asp
Lisa Lloyd
Local time: 02:27
Native speaker of: Native in SwedishSwedish
PRO pts in pair: 255

Peer comments on this answer (and responses from the answerer)
disagree  Billy McCormac: condo is not correct... see my answer
10 hrs
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