Leasing Restrictions
For a variety of reasons, associations, particularly condominium and town home associations, frequently ask if they can restrict leasing in their communities. Concerns about financing and insurance often generate interest in leasing restrictions. Intangible costs may include perceptions that tenants do not have the same interest in the community and are more likely to violate rules and regulations; perceptions of difficulty in blending investor owners and tenants in the life and operations of the community; perceptions of a lack of interest by investor owners in common area maintenance and reserves if investor owners are in the community for the short term. A recent Florida case provides some guidance as to how a court may analyze leasing restrictions.
