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Does rental of condominium in high rise community lower values for other owners

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October 07 2013 - Lyndhurst
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Maria is correct, and I'll add that when the proportion of owners to renters gets too low, the Board of Directors begins to act more like property managers for absentee landlords than advocates for homeowners.
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October 07 2013
A high ratio of rentals compared to owner occupied does impact the value.  In fact, if the ratio is considered too high by banks they won't offer financing to prospective buyers because they see it as a risk.  The banks believe that tenants do not tend to care for the property the way an owner does.
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October 07 2013
 
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