💬 Join us to post & get advice from 50,000 HOA & Condo leaders.

Create Free Account →

⚡ Takes 30 seconds

Already a member? Log in

JimbB (Hawaii)
Posts: 42
Posted:


I hope you all are well doing what you all do best helping and educating all the members. Since I purchased a property in Fl it was know that one member could not own more than one apartment, to avoid speculators? Originally rental was very strict, today you can rent after owning the property for two years. Now we have a buyer that owns a property across the street, and resides on another property? They don't seem to be buying this one bedroom unit to reside, so we are thinking probably they will wait the two years to rent? We asked if this new buyer, is fixing the unit to go ahead and sell it for a profit? If that is considered speculation? They said no? I think that if somebody can do that why owner's cant?
SteveM9 (Massachusetts)
Posts: 3,699
Posted:
I dont think it really matters. Nothing you can really do to stop someone from owning multiple units. Just because something is in your CCR/Bylaws, doesn't make it legally enforceable in a court of law.

PS. If you cause trouble for him, he could simply register a company name and put the house in that name.

🎯 You've read this entire discussion

Join the conversation with 50,000 HOA & Condo Leaders:

  • ✓ Ask follow-up questions
  • ✓ Share your experience
  • ✓ Get expert advice
  • ✓ Access 350,000 discussions
Create Free Account →

⚡ Takes 30 seconds

Already a member? Log in here