Question

 If bought a condo but the developer continues to significantly rent units is there an out for a condo owner Is the developer responsible for a certain buyer vs renter percentage?

Answer Read your governing documents to determine what the developer is 'allowed' to do during the 'declarant control period'. As well, determine the status of the project, so that you know what ratios ar... Read More »
http://wiki.answers.com/Q/If_bought_a_condo_but_the_developer_continues_to_significantl...

Top Q&A For: If bought a condo but the developer continues t...

What is the acceptable owner to renter percentage in an 18 unit condo building?

The ratio you mention can be a key factor considered by a bank in lending money to a prospective owner.A building with too many renters may appear to the banker like a building with too high a risk... Read More »
http://wiki.answers.com/Q/What_is_the_acceptable_owner_to_renter_percentage_in_an_18_un...

I am a condo owner. The condo management is plugging into my electicity for all eight units. Is this legal?

Legal is the interesting term in this question, and may be beside the point. Best practices dictate that at least, this is unfair.If you're paying 100% of the electric bill, you can bill the associ... Read More »
http://wiki.answers.com/Q/I_am_a_condo_owner._The_condo_management_is_plugging_into_my_...

When the seller or developer failed to deliver the condominium unit due to non construction of the project what interest rate the developer must pay to he buyer for the amount they paid?

Your answer is contained within the purchase agreement that you signed originally.
http://wiki.answers.com/Q/When_the_seller_or_developer_failed_to_deliver_the_condominiu...

I am renovating my condo unit on the 5th floor. I broke open a water pipe causing it to flood down to the lower units. Am i responsible or would the damage be coverd by the building condo insurance.?

Since you caused the damage, your HO-6 condominium unit owner's insurance may cover the cost of repair. However, your insurance company and the insurance company that carries the master policy will... Read More »
http://wiki.answers.com/Q/I_am_renovating_my_condo_unit_on_the_5th_floor._I_broke_open_...


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