rental cap: More About FHA’s Stance on Condominium Leasing Restrictions - 10/01/15 08:48 PM
More About FHA’s Stance on Condominium Leasing Restrictions
Two weeks ago, I published an article about some recent clarifications by FHA regarding condominium leasing restrictions.  The article created quite a buzz and generated many calls and email inquiries regarding its content.  This is a follow-up article addressing some of those questions.
The section of the National Housing Act, 24CFR203.41, states that properties encumbered with FHA-insured loans must have free assumability with no restrictions except as stated in the section.  This includes leasing and conveyance restrictions which impact a unit owner’s ability to sell or lease the unit or reduce the unit owner’s proceeds … (7 comments)

rental cap: Can We Cap the Percentage of Investors in Our Condominium? - 06/24/14 11:09 AM
Can We Cap the Percentage of Investors in Our Condominium?
Today I received an inquiry about leasing restrictions, particularly placing a cap on the number/percentage of units that can be leased.  It was unclear to me as to whether she was inquiring about how this applied to an FHA or VA condominium project approval, but I answered it as best I could.
She wrote:
“Dear Eric, I have been trying to pin down in the internet a rental cap restriction of 10 to 30%.  We are now over the 30% cap and found that homeowners are not happy any longer stating … (15 comments)