Legal rights for condo rentals when building allows only 10%

[Jansel H.]

Hi Investors! Newbie is here 🙋🏻‍♀️bought my first condo in Minnetonka Minnesota planing on renting but the building allows only 10% rental. It’s about 12% right now They are trying to minimize renters in the building. The board told me with “winged” if l do rent out “they don’t know about it.”  Kinda like l can but not?!! 🤷🏻‍♀️ If l do rent it Is there any legal things I would face in the future? Any suggestions opinions greatly appreciated. 

[Tim Swierczek]

@Jansel H.  You have no legal rights in this case other than to not purchase there, they disclose the rules up front and you have 10 days to read and agree to them.  If you are purchasing a condo with 10% down you are using an owner-occupied product and must occupy it for 12 months. It sounds like you should find another investment.