People Without Facebook Accounts Are Deemed 'Suspicious' -- Forbes

[Hassin Bin Sober]

69. We allow renters.

We just require a more than 30 day lease - not a day-to-day or week-to-week rental like a hotel.

We also require the board review the lease contract to verify other owners rights are protected.

She has done neither. But we are very laid back and I/we respect other people's property ownership rights so we don't make a big deal out of it.

The ironic thing is this is the kind of neighbor (the only one we have like this out of 6) who waives the condo by-laws around when she has a complaint. I could write a ten page post on this woman and her bullshit.

That said, I can understand the restriction some associations have on renters. For one, too many renters affects the ability to find mortgage financing for the other units. Having a "hotel unit" operated out of the building would absolutely KILL conventional financing prospects (I'm in the mtg. business). Two, and we have unfortunately had some experience with this, some renters just don't give a fuck about the other neighbors and/or common elements. It's sad but true. Three, landlords tend to be a lot more stingy about improvements and or up-keep when it comes time to vote for improvements.

We had some renters a few years ago - loud music, yelling in the hallways at 3am, pissing off the back deck and verbally abusing one of the other owners. They had a weekend blowout with people in and out all weekend - someone stole my neighbors water bottles and rolled them down the street for fun. They admitted it. Someone else walked off with our brand new yard furniture cushions. We couldn't do anything to them as their contract was with their landlord. We finally had to start fining the owner (first time ever).

I have some friends that bought in to a larger 30 or 40 plus development mid-rise. Unbeknown to them, a lot of the units were retained and rented by the real estate company that marketed/sold the project and his employees/friends. They've had nothing but trouble with vandalism in the hallways, noise and all the other bullshit that comes with apartment living. Only now THEY are responsible for sharing repair costs. Not only that, the absentee landlords NEVER vote for any repair or improvement projects. They couldn't even hire an engineer to assess the failing foundation so they could go after the developer while the building was still under warranty. Most of the landlords are behind on assessments probably because they bought with no money down and are now in trouble.

Condo associations can turn to shit in a hurry and fuck everyone else over. As a mortgage Loan Officer, I used to SCOFF at any idea a condo was a higher risk for the lender when we were assessed higher lending fees for the "supposed" risk. Now I know different.