Rental Caps & HOA

That some condominiums have restrictions regarding the rental of units in the complex? Because lenders typically require a minimum owner-occupancy, many condominiums have rules limiting the number of rental units allowed. Some require that the owner live in the property for a specified period before the property is rented. Move in and move out fees may also be imposed and, finally, there may be leasing and application requirements imposed by the homeowners’ association.

Before your investor client buys a condominium as a rental, make sure your client does due diligence.