Hi! I am interested in buying a condo for my elderly parents to live in. Most of the condos I am interested in are either owner-occupy only or the owner must reside there 1-2 years before renting. Have you heard of HOA boards making exceptions for cases such as mine? I would imagine it's pretty common for parents to buy condos for their kids, or vice versa. Thanks!
Investor · Las Vegas, NV · Member since 2013 · 8k+ posts · 10k+ votes
2y
I THINK this would be allowed, ask.
You could make them 1% owners and put them on title. Then you’d probably get cheaper property taxes if it was their primary. And you wouldn’t charge them rent, they would gift you “X” dollars per year for being your son.