renters

Started by Jim • 1 replies • 2027 views

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Jim (North Carolina)
Posts: 2

Posted:

Our community has 180 units, and about 45% are renters and growing every day. There seems no way to stop this. The question I have to ask is could we add on an extra fee for those who rent ther condo.
Our property values are going dow every day because of this problem.
Jim
In North Carolina

DanielL (California)
Posts: 5

Posted:

I live in CA and according to our lawyer charging owners who rent more is illegal. BUT what we just did was place a one year moratorium into the CC&Rs - new people buying have to wait a year before they can rent.

Also, we have in our CC&Rs a limit to the % of units that can be rented at any one time - you should definitely have this voted on as it tends to affect property value.

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