Parkshore Plaza, one of the newer luxury condominiums in downtown St Petersburg, has a minimum rental period of 90 days, with a provision that an owner can only rent it out once a year.
I thought I knew what this means - you could rent it out for the winter season, for example, but then you'd have to either occuply it yourself or leave it empty for the rest of the year - you couldn't also rent it out for the summer. That makes sense - most condos do want to have stability, and this allows an owner to benefit from a seasonal rental or a temporary absence, while keeping the property from becoming a hotel.
One of my clients rented his condo, furnished, for a year. At the end of the year, the tenant wanted to extend for another year (at a reduced rent, but that's fodder for anothr post) which the owner agreed to. The tenant's situation changed, and after a few months into the second year, needed to terminate the lease.
OK - then we'll find another annual tenant. The first rental was for 15-16 months, and the owner is prepared to find another tenant for a year. Hold on, says the Condo manager - you've already rented the condo for part of the "second year" so you can't rent it again. It has to stay vacant for the next 8-9 months until you start another year. I don't understand how one 15 month rental and another 12 month rental would be a violation of renting it out only one a year.
This just doesn't make sense - there was no turnover in occupants, there was no wear and tear of moving in or out - how can this be a sensible interpretation? Further, the manager says that the "one rental a year" is spelled out in the condo docs rather than being a Rules and Regulation - i.e., major problem to change!
Have any of you come across the situation before? How was it resolved?