Condo Smarts: Owners lose right to rent their units
Dear Tony: Our strata corporation has changed our rental exemptions and we have lost the right to rent our units, even though the developer told us when we purchased that we would be able to rent for 100 years and there could be no limitation. As investors, we didn’t think this could change, so we didn’t pay attention to the notice package. We received a notice last week that the rental disclosure had been amended and that, when our tenants leave, we have a year to rent and then we can no longer rent our units. This is insane. How could the government let this happen? Read the Q&A…………….