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Does FHA require up to 50% of condo units for rent?


I live in a 12-unit condominium. Two years ago I spent almost four months getting everything required for FHA approval. Now we are trying to renew. The only things that have changed are our budget (obviously) and the fact that we currently have two units for sale. We have never allowed leasing or renting of units unless the board approved this for a hardship situation (except to immediate family members) . Now we are being told that we MUST allow up to 50% of the units to be leased/rented. This doesn't seem to make sense to us. We have found the following source as one reference: http://www.cohoalaw.com/from-capitol-hilllegislation-hud-relaxes-leasing-restrictions-for-fha-approval-of-condominium-projects.html Does anyone have any information that might help us? I would think that an owner-occupied building would be a better circumstance.

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