Cohousing-L Mailing List: Re: rental policy in these economic times

[Rodney Elin (hen3ry]

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