Condo CC&Rs often impose flooring rules that require hardwood owners to cover a percentage of floors with rugs or carpet, and some buildings mandate wall-to-wall carpet in bedrooms. Condo CC&Rs typically set pet limits by size and number, and sometimes ban specific breeds and restrict adding additional pets. Condo documents define which unit elements owners must maintain and which the association covers, such as decks or windows. Lenders may limit financing when a building has a high percentage of rented units, so buyers should check the rented-to-owner ratio. Most associations require permission and licensed contractors for remodels. Short-term rentals are frequently prohibited and some buildings cap rental percentages through waiting lists.
Condo CC&Rs typically specify pet restrictions, which often limit the size/number of dogs and cats. Keep this in mind, for example, if you're thinking of getting a second dog and the CC&Rs limit the number of pets in a unit. Also be on the lookout for breed restrictions, as some CC&Rs ban "fighting breeds." What are your individual unit's maintenance and repair responsibilities, and what does the condo association cover?
4. Ratio of rented to owner-occupied units. Find out how many units are rented, and how many are owner occupied. For one thing, most lenders have underwriting limitations if there are too many condos rented in a complex. And secondly, it's always nice to purchase a condo in a building where other owners are as equally invested in the building as you are.
You've found the perfect South Boston condo for sale-great location, checks all your boxes and has condo fees you can handle. 5. Improvements and alterations. Most CC&Rs specify that owners need condo association permission for remodeling, and that owners must work with licensed tradespeople. 6. Ability to rent your unit. Short-term stays are typically prohibited in CC&Rs, and some buildings have a waiting list that prevents more than a certain percentage of units from being used as rentals.
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