This question was submitted by J M from Illinois
I live in a small 6-unit condo that is self-managed. All units are owner-occupied. There are no regular or annual meetings. Notes are posted on the door to advise of fee increases, special collections, change of officers, etc. No one objects to this. The Association is solvent, and the 6 of us get along well. In other words, it’s very informal.
I’m selling my unit and a unit owner indicated interest. He would buy as an investment and rent the unit. Another unit owner objects to renters even though the condo documents don’t prohibit or set limits on renters. The unit owner is no longer interested because he doesn’t want to cause trouble in the building.
Condo documents have not been updated since the developer created them more than 40 years ago. I now plan to use a realtor to sell. Should I inform the realtor and/or prospective buyers about the situation? Could the current unit owners stop someone from renting the unit?
