I’m wondering what effect rentals by the developer and flippers are going to have on the owner occupied units. My understanding is that many lenders are leery of condo complexes with less than 60% owner occupacy.

On top of that, teatrim mentioned that the complex is 70% sold out. So, if the developer winds up having to keep about 30% of the units for rentals, it seems like they will be swinging the big stick in the homeowner’s association. Might make it difficult to do anything…or on the flip side, individual owners may wind up paying for improvements they may not want just so the developer can more easily sell its remaining units.