The Problem with Rentals in Condominiums (and Some Possible Solutions)
There is no question that the Great Recession hit the world of condominiums perhaps harder than any other sector of real estate. Condominium owners were hit with an unprecedented “double whammy,” having to suffer not only the devastating loss of most (if not all) of the equity in their homes, but also the “aftershock” of strict new lending standards (impose by both the government and lenders themselves) that made the purchase of units at many condominiums almost impossible to finance. Part 1….. Part 2…….
On June 30, 2011, the Condominium Project Approval and Processing Guide (“Guide”) was published by the U.S. Department of Housing
MI Ct. of App. Rules that Condo Assn. is Not Entitled to Notice of Surplus Funds From Foreclosure Sale
In Moon Lake Condominium Association v RBS Citizens, Case No. 323476 (Michigan Court of Appeals, November 12, 2015, unpublished), the
The Michigan Court of appeals recently made the following significant rulings that impact Michigan Homeowners’ Associations in Conlin v Upton,