Re: rental policy in these economic times
From: Rodney Elin (hen3ryeasternvillage.org)
Date: Tue, 1 Feb 2011 17:22:54 -0800 (PST)
On Tue   1 Feb 11 1 Feb 11 2:1051, Diana Carroll wrote:

I've never understood the goal of a policy limiting renters to one or
two or however many years.  It seems to me that the goal is a low
turnover, so if a renter wanted to stay longer than one or two years,
that would be a GOOD thing.  I'd want a rental policy that would
maximize community stability therefore renter longevity.


It is my understanding that this kind of clause limiting renters is a standard drop in to most home owner association bylaws. The larger the percentage of non-owner occupied units, the lower a condominium is valued, and the lower the property value, so the harder it is to sell a unit. I have been told that mortgage companies will not approve a mortgage with more than twenty percent of the units non-owner occupied

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