Can you run a business out of a condo?
“There’s a case in Massachusetts where the condo bylaws said there can be no business in the unit, and someone was running a child care business. There was a lawsuit and the court told the owner, ‘You just can’t do that.’
What are the pros and cons of Condo ownership?
The Pros and Cons of Condo Ownership. A condominium is one of a group of housing units where the homeowners own their individual unit space, and all the dwellings share ownership of common use areas.
Are there any restrictions on owning a condo?
There can be very strict condo association rules and restrictions. Drive into any condominium project and pay attention to the exterior of the units. They all look the same with respect to paint colors and exterior construction and design materials, and they always will.
Which is better to buy a condo or a co-op?
Keep in mind that they may increase over time. Cost. Condos usually cost more to buy than a co-op, but you have more flexibility with your investment. It’s usually easier to sell or lease out a condo. While co-ops will have higher fees, the initial cost of buying into a co-op is usually cheaper than a condo.
Can a condo company operate without a board of directors?
The entire board of our 18-unit condominium is resigning. No other owner wishes to become a director. Can we continue to operate as a condo corporation with just our management company? A. No. The management company cannot replace the board and cannot make substantive decisions. Nothing of significance can be done.
Can you run a business from a condominium?
In addition, the existence of amenities such as office facilities is often one of the motivating factors in the purchase of a condominium unit. A buyer may purchase a condominium unit thinking he can operate a business from it, but due to the nature of the business he cannot.
Can a condo association enforce a total ban?
Even if there are no other members being allowed to conduct business at home, it will be hard to enforce a total ban. Since a total ban isn’t necessary to protect the residential nature of your community, a court is likely to be as unimpressed by the logic behind the ruling as are your members.
Are there restrictions on what you can do with a condominium?
A Limitations on how you can use your condominium unit are usually spelled out in the use restrictions section of your condominium declaration, an important governing document of your community. Generally speaking, condominium units are residential units to be used for residential purposes only.