Updated almost 5 years ago on .
Condo Document - Rental Cap Clause
Hi experts,
I am looking to buy a newly constructed condo with 12 units in the building. There is a rental cap of 50%. I was informed by the realtor that the condo document could be amended to reflect that I can claim a spot in the 50% cap. Is there a specific language that can be used to do so? I just want to ensure that I am not forced to sell (especially at a loss) a few years down the lane, in case I have to move to a different state. I am aware that the HOA plays a big role in this too. But I just want something concrete written in my condo doc, so that I can hash it out with the HOA in future.
Appreciate your help!
Best,
Tara