In most cases, a condo owner can rent out their property — and ing to the Zillow Group Consumer Housing Trends Report 2018, of those who own two properties, 38% say they rent out one of them. When a condo is rented, the owner typically becomes the landlord unless they hire a property management company.
Yes, owners of iniums permanently own the property as long as they follow the rules and responsibilities put into place. Usually, the owner must make payments and share amenities, so they'll keep the ownership until they decide to sell it to someone else.
Oakland is a “just cause” city. This means that a property owner must have a “just cause” to evict a tenant. These “just causes” are outlined in the Just Cause for Eviction Ordinance. The Rent Adjustment Program does not hear eviction cases and cannot provide legal advice or legal assistance.
The Ellis Act is a state law that allows landlords to evict residential tenants in order to go out of the rental business. This right is afforded to rental housing providers even though general public policy is to keep residents housed so long as their tenancy is in good standing.
The Bottom Line. While condo associations cannot directly evict an owner like a landlord might a tenant, they still have legal tools to enforce rules and collect unpaid dues.
A condo (short for inium) is basically an apartment that you own. Everything inside your space is yours, and everything outside of it--like the walkways, fences, pools, any kind of landscaping, hallways, stairs, and laundry room--is owned and taken care of by a homeowners association (the HOA).
Single family residences including condos are exempt from California Statewide Rent Control, AB-1482, if: Proper notice of exemption is given to the tenants and; Owner is not a Real Estate Investment Trust, Corporation, or LLC where an owner is a Corporation.
A landlord is the owner of a house, apartment, inium, land, or real estate which is rented or leased to an individual or business, who is called a tenant (also a lessee or renter). When a juristic person is in this position, the term landlord is used.
When you buy a condo, you become a homeowner and gain access to most, but not all, of the rights that come with buying a freestanding property. If you're wondering which rights condo owners don't have, they're related to the fact that a condo involves shared ownership.
Any rental unit built after 2/1/95, as well as houses and condos, are not under rent restrictions. Even where these rent restrictions do not apply, eviction protections do continue.