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Condo Rules and Regulations - Part 2

RINGO REALTY…about your neighborhood

Condo Rules and Regulations - Part 1

A Landlord Client relationship of ours just came panting into our office. With a cold sweat and dazed look the client asked our professional opinion about a property in the Back Bay they were about to go to Purchase and Sales (contract) on. The only thing the client had left to do was to review the condo docs. As it turns out, The Buyer, who will owner occupy the unit, will never be allowed to rent out the unit under any circumstances. The Clinet asked our opinion. Looking strictly at the resale value, you lose part of your "Bundle of Legal Rights" the one of Control. This is where the owner may control the use of real property to rent it or to leave it vacant if you decide later not to occupy the premises. On the other hand, the owners in the Condo Association have made it clear they only want owner occupants in their building, to add appeal to those who prefer non - renters in their premises. The first thing to ask a Listing Agent is, what are the restrictions on the use of the property? That way you might have saved a lot of time and frustration! For an educational real estate shopping experience, or for a no obligation on the marketing of your home or building in the Greater Boston and South Shore areas, areas "Ring us at 617-738-Ringo (7464) and Start Packing!" or visit us at www.ringorealty.com or stop by at 1423 Beacon Street in Coolidge Corner.