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Issues with Condo Rules and Regulations

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1 Issues with Condo Rules and Regulations on Tue Mar 29, 2011 8:15 pm

General discussion about anything you see in the rules that you think should be changed or is missing.

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2 Developer paying sinking fund on Tue Mar 29, 2011 8:19 pm

The rules says that the developer doesn't have to pay the sinking fund until they transfer units. Currently, building D is 50% owned by the developer and no sinking fund has been paid on these units. The developer is currently renting many of these units and may choose to never sell them. I think this should be changed so that it says the developer must pay the sinking fund upon occupancy, rental or within the 2 years of developer warranty.

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3 Rental terms on Tue Mar 29, 2011 8:21 pm

I think the rules should say that rental units can not be subleased ( renter then renting to someone else ). This will prevent agencies from subleasing to tour groups that come in for 1 or 2 weeks.

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4 I absolutely agree!! on Thu Mar 31, 2011 10:40 am

CraigT wrote:The rules says that the developer doesn't have to pay the sinking fund until they transfer units. Currently, building D is 50% owned by the developer and no sinking fund has been paid on these units. The developer is currently renting many of these units and may choose to never sell them. I think this should be changed so that it says the developer must pay the sinking fund upon occupancy, rental or within the 2 years of developer warranty.

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5 Absolutely right,Craig! on Thu Mar 31, 2011 10:58 am

CraigT wrote:The rules says that the developer doesn't have to pay the sinking fund until they transfer units. Currently, building D is 50% owned by the developer and no sinking fund has been paid on these units. The developer is currently renting many of these units and may choose to never sell them. I think this should be changed so that it says the developer must pay the sinking fund upon occupancy, rental or within the 2 years of developer warranty.

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