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Condo Lease Limitations?

Started by GramercyGal
over 14 years ago
Posts: 12
Member since: May 2009
Discussion about
Any suggestions regarding what lease limitations a Board should recommend to the owners of a new condo construction building. Seems like 1 year minimum is the standard. Any disadvantages with a 6 month minimum lease term?
Response by saiyar1
over 14 years ago
Posts: 182
Member since: Jun 2010

Well if they bought a condo and own the actual property, they should be able to rent it out however they see fit. Otherwise they'd have bought into a coop. Charge a move in/out fee for the inconvenience and that's all.

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Response by Riversider
over 14 years ago
Posts: 13573
Member since: Apr 2009

Buildings are sensitive to leases less than one year, to avoid turning the building into a hotel. Many buildings limit leases to a minimum of one year.

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