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Leasing & Opccupancy

Changing the Governing Documents

One of the most difficult actions to take by an association is to change the governing documents. The declaration, bylaws, or CC&R’s (Covenants, Conditions, and Restrictions) typically have been created by the developer after the plat was drafted. They are the legal essence of how the association is to look, be governed, and protection for

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Leasing & Opccupancy

Why Would You Bother? Leasing Cap Amendments Pros & Cons

There’s a lot of buzz these days about leasing cap amendments.  What are they? Are they necessary?  What’s the benefit?  Is there a downside? In its most basic form, a leasing cap amendment simply restricts the number of units that can be leased at any time.  For the sake of argument, let’s assume there are

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Insurance

What Impact Does Leasing Have on an Association’s Insurance?

The percentage of renters is increasing nationally, and our area leads the country in this statistic. A 2014 poll by the National Multifamily Housing Council found that 42% of households in the D.C. area are renting, second only to New York at 51%. Many factors contribute to this statistic, but the area’s transient economy lends

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Leasing & Opccupancy

Practical Tips for Dealing with Short-term Rentals

Whether you love them or hate them, it appears as though short-term rentals, especially in the D.C. metropolitan area, are here to stay.  Below are some legal and practical tips for managers when faced with decisions or complaints relating to short-term rentals. Look to see if the community associations’ recorded covenants prohibit short-term rentals. The

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