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…….
There are basic expectations that apply to virtually any common-interest community. With this in mind, the Center for Community Association
Senate Bill 610 Passes: Is the amendment to MCL 559.167 of the Michigan Condominium Act constitutional?
On June 22, 2016, Governor Snyder signed Senate Bill 610 after it underwent several amendments in both the house and
Condominium Associations as Landlords: Legal rights and Issues involved in an Association’s Leasing of Units after Foreclosure of Condominium liens
Michigan Condominium Association Boards routinely file lien foreclosure lawsuits while seeking to recover overdue condominium assessments. While the goal of each