When you buy a condo do you have to pay rent afterwards?

Answer Rent is a specific term that implies use of an asset that you do not own. Unless you are a tenant and your landlord owns the condominium, you do not pay rent. When you buy a condominium, you do, h... Read More »

Top Q&A For: When you buy a condo do you have to pay rent af...

Can you over ride Condo bylaws and rent it out because for two years it sat vacant because you could not sell the Condo now you are renting it even though the bylaws say you cannot rent it out?

You can negotiate with the board and ask for a rental exception. You may be required to prove a 'hardship' so that the exception can be granted.It's a better idea to work with the association's off... Read More »

Do condo owners have to own a business to rent their condo?

In a word, no. More DetailThe association that operates the community, however, is a business, and may dictate your ability to rent, the covenants, limitations, restrictions and so forth that you m... Read More »

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?

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 »

Can i rent out my condo just after a month of buying it?

Read your governing documents to determine whether or not your association has limits on the number of units that are rented. Work with your board to establish your position on the rental list -- i... Read More »