Asked by Question, Ohio • Sat Apr 18, 2009
This issue came up when I was trying to sell my condo and the buyers had difficulty with financing due to the percentage of rentals - they were obtaining an FHA loan. The bylaws clearly state the allowed percentage, but this has not been enforced and now my community has twice that number of rentals. Concerning to me is that 2 of the 3 board members have multiple rental units and have profited from ignoring this bylaw. Is there a standard way to handle this?
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