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You can find the answer you want in your governing documents.
If no renting is allowed, and you are forced to rent your unit in order to preserve your ownership and avoid foreclosure, for example, you can petition the board for an exception to its no-rent rule.
Most boards -- in these hard financial times -- would rather have a reputable tenant residing in a unit instead of working with a bank as a neighbor.
Best practices would suggest that you complete a background check on any prospective tenant, give the board a copy of your lease, so that the board understands its terms and conditions, and equip your tenant with copies of your governing documents. This way, your tenant can live in your condominium just like an owner, except without the right to vote.
However, the board has the final say in whether or not you will be granted an exception to the rule.
Wiki User
∙ 14y ago
Wiki User
∙ 7y agoUnless you can obtain a written waiver of that rule then you cannot lease your unit out.
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Can a condo assoc allow only 1 condo to be rented and not allow any other to be rented?
The condo association has to adhere to the by-laws. If the by-laws agree to rentals, and condo can be rented. If there is no rental provision, then not even 1 condo can be rented. It's all-or-nothing.Another AnswerThe governing documents, more commonly the CC&Rs and any amendments, can specify a 'rental cap', meaning that a defined number of units can be rented at any one time.Your governing documents will specify this number of rentals allowed, and your board or property manager can help you discover and understand this guideline.If your association is small and there are fewer than 10 units, only one rental may be allowed. If, however, your association is larger, a larger number may be permitted.Lenders review the rental percentage in an association before offering mortgages, and when the rental number is too high, all else being equal, a mortgage may be denied if the rental percentage is too high.There may also be other factors involved in the rental question in your association.
Can your insurance company force you to allow them to pick up damaged patio cover?
An insurance company covers damage to the property if you bought a Homeowners Insurance Policy. They cannot force you to do anything except to pay for the coverage. A landlord of a house you live in, or a condo association can force you to pick up damaged patio cover because it is unsightly and ruins the look of the Condo. Read the Association Laws.
Which is much affordable, buying tool or renting tool?
Buying tools will allow you to use the tool at any time. Considering the rates for renting a tool, buying a tool will allow you to have flexibility in your purchase rather than renting everytime.
What happens to the first mortgage on a condo in Florida when the condominium association forecloses for unpaid association fees?
For the condo association foreclosure to be valid, the bank who holds the mortgage must be notified of the foreclosure action, and the mortgage company has the opportunity to do a couple of things: They can pay the delinquent condo fees themselves, to protect their own interests, and force the borrower to pay them back. If the borrower is unable to repay the condo fees, it could put the mortgage payments in default, and be grounds for the lender to begin foreclosure proceedings. If the borrower is behind in their mortgage payments, the bank can join in the condo association's foreclosure action themselves. This is actually a great assistance to the bank, as it saves them the time and trouble of initiating the lawsuit - they just get to piggy-back on the condo association's foreclosure, which makes the foreclosure sale happen that much sooner. And since the bank's lien has priority over the condo association, the bank would be the one to get paid off first if the property got sold to a third party at the foreclosure sale, or if nobody bid on the property, they would be the ones who would become owners of the condo. If, for whatever reason, despite getting proper notice, the bank does nothing and the condo association forecloses on the property. The first mortgage holder has a lien that always survives the condo association's foreclosure. In fact, second mortgages are usually superior to the condo association's lien for unpaid maintenance fees. Usually the condo association gets stuck with owning a property with at least one outstanding mortgage with an outstanding mortgage balance greater than the actual value of the property because of the decline in real estate value. Most condo associations allow the first mortgage holder to foreclose on the property after their foreclosure is done. The main point is that in Florida a condo association foreclosure has no effect on the first mortgage.
What are the condo association's liabilities if they allow a condo owner to voluntarily clean the carpet in the common area?
There is no standard. Association counsel may be a good first stop in order to ascertain all the variables. The situation requires evidence of the permission granted, together with the conditions specified in the permission. Otherwise, if the damage is an insurance loss, the association can work with the master-policy carrier who can help determine who is responsible to repair the damage. The owner may carry insurance that can be tapped for this purpose. If this is a personal injury matter, an attorney specializing in that practice may be able to counsel both parties.
Can condo owners be evicted by land owners?
Theoretically it MAY be possible, but in practicality probably very difficult. In some states, (Florida being one example) the condo building(s) may be built on real estate on which the condominium association pays so-called 'ground rent' to the property owner for the privilege of occupying their land with the condominium. That is - the condo association 'rents' (leases) the property on which their building(s) is situated for a certain contract-negotiated cost. The provisions of that contract would have to be known in order to comment further. The practical matter would come into play if the landowner DID attempt to foreclose and evict the condo tenants, all of whom own a share in their association. It is inconceivable that the courts would allow a wholesale mass eviction in such a scenario, and the matter (if it were to be forced) would probably consume LENGTHY legal action.
Can a condo association not allow you to own an electrical car because they are denying your access to electricity?
The association cannot prohibit your purchase, but may be able to deny you charging privileges. It's sad that the association denies you access to electricity, which you could consider unreasonable. As well, a consideration for charging is one of the items on your check list before you purchase the car. Is there a way you can run electricity that you pay for out to your automobile? Finally, you could start a petition or campaign to encourage the association to establish a charging station or two on your property.
What kind of issues should you look out for when buying condos in areas that rain a lot?
When buying a condo in an area that rain a lot, one of the major issues is the drainage system. Condos that are not equipped with the latest innovation in drainage systems would allow for the rain accumulation to cause unwanted mudslides where the grass is not in abundance. The proper drainage system should be inquired about prior to renting a condo and the potential tenant should examine how the rain water seeps from the rooftop into the side or front drainage pipes.
If renting before the By-Laws are changed to exclude renting of a Townhouse does the Grandfather Law allow you to continue renting after the initial renter has moved?
That would depend entirely upon the rules in your Home Owner's Association or condominium agreement. Many HOA terms limit such "non-conforming" uses to the first instance and cannot be transfered or modified without permission of the board. Others permit such a use (rental) until the owner moves back in for more than a prescribed period (90 days, 2 years, whatever).
Can a condo association require open voting to increase HOA dues?
Condo association bylaws typically specify the process for voting on changes to HOA dues. While some associations may require open voting, others may allow for private or proxy voting. It ultimately depends on the specific rules and regulations outlined in the association's governing documents. Owners should consult the bylaws or seek legal advice to understand their specific rights and responsibilities in this regard.
You like sucking your wife's breast but she doesnt allow you what to do?
stop!
How do you skip steam update?
you cant Steam doesnt allow that
