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Condo association board won't let us rent our unit, although they do

Posted on Tue, Feb 09, 2010 @ 06:37 AM
  
  
  
  
  
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Our condo association board told us we couldnt rent out our condo unit, although the board members themselves have the top 5 renting units in the condo building.  Any suggestions how to handle this?
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Comments

ask the board under what authority (e.g. declaration, by-laws, rules) they are basing their decision? kb
Posted @ Tuesday, February 09, 2010 10:34 AM by kb
Sounds like your community has a rental cap, which is a limit on the percentage of the total number of units in the community that can be rented at any given time. Rental caps are put into place to make sure a community maintains it's ability to get FHA financing. Plus, a community with low rental percentages is more attractive to potential buyers. You should check your bylaws, amendments, etc for language regarding rental caps. If you do not find enough info from that to satisfy your question, consult an HOA attorney to be sure what your community, and board, are doing is legal.
Posted @ Tuesday, February 09, 2010 10:42 AM by Jason King
in my building we have rental cap, yet owners are still renting out. if I were you I'll go ahead and rent out. legally they can't force you to not rent. if they increase your assosiation dues, you can sue them.
Posted @ Wednesday, February 17, 2010 11:50 AM by Keenan
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