All Forum Posts by: Steve Chaisson

I would do some serious research into the stability of the association prior to making a purchase. Associations with fees that high are often dealing with maintenance, legal, or financial issues. There could be special assessments levied, and often you will see fees that high because of a large number of delinquent units. You need to understand the big picture to assess the purchase.

@Shari Posey

Shari - no disrespect intended - but let me see if I understand what you are saying. You have flooring on a 2nd story condo that violates CC&R's, possible agitated complainants below, you are a broker, and you want to incorporate a lease provision that covers up your violation of the CC&R's?

This is a great post, but I would have and attorney review lease provisions prior to implementing them.

Landlord tenant law varies from state to state, and you can't simply erase statutory leasehold rights with a provision to protect yourself as a landlord.

For example. @Jack Tucker , you can't simply render a security deposited to be forfeited by non-payment of rent. In Tennessee, that clause could invalidate your entire lease and subject you to civil penalties. Also, landlord/tenant law in our state is pretty specific about maximum fine amounts a lease can impose.

@Elizabeth Colegrove , state laws establishing lease termination provisions will probably create leasehold rights for the tenant that trump your buyout clause.

The Landlord/Tenant act in our state is interesting reading and I would highly recommend that anyone dig in pretty deep and understand how their local jurisdictions are interpreting and enforcing various lease provisions.