Let me ask you a question. What do you think will have more of an negative effect on your property value? Well qualified renters? Or restricting renting in your building and removing the entire investor pool of buyers in the future? Or perhaps restricting a struggling homeowner from renting, to avoid a foreclosure or short sale. I can assure you, if there is a struggling home owner in your complex you won't know until its too late.
A foreclosure in your building will do more damage to your property value then any renter.
Keep in mind that adding a right to 1st refusal in your bylaws, will have a negative impact on any FHA purchasers. And right now FHA loans are some of the easiest to get.... more