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By CondoAssociation.com • July 10, 2018

Can we stop investors from buying condo units?

We have a 26 unit condo in PA. Five of the units are owned by non-resident owners. The board would like to amend the bylaw to prevent any new investment/rental properties in the building. Do we need an attorney for this? Is it costly? Any suggestions? When parents buy a condo they put it in their son/daughter's name. They cannot serve on a board and it is difficult enough to find people to serve. Will additional units with owners who do not live in the building lower our property value? Thank you for your help.

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