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…….


Related Articles

The Future is Now: Is Your Condominium Association Prepared to Handle these 6 Technological Advances?

The last significant revisions to the Michigan Condominium Act took place in 2001 and 2002. While many Michigan condominium associations

What are the top 5 signs that your Condominium Documents need to be amended in Michigan?

It is the responsibility of the Board to enforce the Master Deed and Bylaws. MCL 559.190 allows for the Condominium

Allegan County Trial Court Rules That Short-term Vacation Rentals Violate Deed Restrictions (MI)

As mentioned in our previous blog article, technological advancements have increased the ability of individuals to do short-term leasing, as