Condo Owner Resident Surrounded by Renters

A.C. from Florida writes:

Dear Mister Condo,

I am in Florida and one of 2 owners in a 45-unit building. The other owner has turned the building into rental units what can we do to get out of our mortgage and make him pay?

Mister Condo replies:

A.C., thank you for writing and I am sorry you find yourself in a less than desirable situation. I am not 100% sure I understand your predicament. If there are only two owners in this building and an investor has purchased the remaining units, there isn’t too much you can do outside of reviewing the association’s governing documents to determine if any rules or by-laws have been broken by the owner who is renting out his units. It is possible that there is a limit or cap to how many units can be rented out at any one time but I doubt there are any restrictions on the owner that forbids him from renting units in general. As for your mortgage, that is between you and the bank who holds your mortgage. Mortgages are not the business of the association so you are on your own there. As for getting the multiple unit owner to pay, that sounds unlikely in my opinion. You may wish to speak to a community association attorney in your state for additional clarity but unless rules have been broken, you may just need to either put up with the renters (who still need to follow the rules of the community) or sell your unit to get out of your mortgage and out of the community. Good luck!

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