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May 19, 2005
Lease Limitation Clauses - Are They Legal in California?
Lots of board members in condominium and townhome homeowner associations ask about lease limitation restrictions. Usually, boards want to propose the clauses to Owners for approval so that rentals in the development can be limited. The desire often arises because of bad experiences with rented units. Boards often find that there are more problems with rented units than owned units. Further exploration raises important questions about financing options - because they are limited in high percentage rental developments. The higher the rental percentages, the more likely that there will be financing issues. There are pros and cons to these provisions. Find out more at http://www.californiacondoguru.com.
Posted by Beth Grimm at May 19, 2005 10:46 PM