Virtually every condo and co-op board application will require both professional and personal reference letters. Anecdotally, most call for two of each. Sometimes a bank reference letter is also requested. That's simply a letter from the bank summarizing your accounts and can be processed quickly.

Do you need references for coop?

All co-op boards require personal letters of reference from prospective buyers. They are references written by close friends who can vouch faithfully for your character. Typically, two to four are required, printed in duplicates.

How often do co-op boards reject?

Boards are not required to report how many co-op applications they review each year, or how many they reject. However, brokers and co-op lawyers estimate a rejection rate of about 3 to 5 percent.