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What if our COA becomes all rental units?


Question:

We have a COA with 54 owners. 11 units are rented. The original master deed from 12 years ago says that any owner may rent, but the lease must be at least one year. We are concerned that more and more units will be rented over time, reducing the value of our units as we evolve to a de facto apartment building. Can we amend the master deed to cap rentals at some percentage, like 30%, with 2/3 vote of owners, or are we bound by the original master deed?


Answers (20)

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