Real Estate Matters: Wiggle room doesn’t let condo developer off hook

Q: We bought into a condo development five years ago. The condo documents said the declarant didn’t need to follow the condo rules or pay dues on his units until the last unit was sold.  We didn’t worry because the declarant control had expired, and we agreed to give the developer a break on upkeep costs to help sell the condos. We figured it would shake out once all the units sold. However, the developer decided to turn the last 35 percent of units into rentals, and because he no longer plans to sell them, he refuses to pay into the reserve fund or full condo dues.   Read the Q&A……………..

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