In an interesting move by the HOA board at Milago, they will be increasing the cap on leasing permits from 25% to 35% of the units. A handful of downtown high-rises limit the number of leases in the building, usually it is 25% of the total number of units. There are two sides to this debate: too many tenants/transience vs. alienating a large pool of buyers who are investors, thus reducing demand. There is no perfect answer that weve found, but its always been our opinion that the best HOA boards are managing to the marketplace, rather than accepting dogma that a particular rule will always yield the same result. Hat tip to the Milago HOA on this one.
Posted on: Thu, 04 Dec 2014 16:13:39 +0000
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