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The Impact of Airbnb in Community Associations (FL)

The rise of Airbnb has been credited with an increase in unwanted guests in HOA communities. Many condominium bylaws restrict or regulate the ability to lease a condominium unit. The Federal Housing Administration’s Condominium Project Approval and Processing Guide requires that at least fifty-one percent of units be owned by owner-occupants. However, the advent of technological platforms (such as Airbnb) have resulted in an increase in short-term occupancies typically associated with hotels as opposed to the landlord/tenant relationship.   Read the entire article……………………………….

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Rates posted assumes 25% down payment, and an ARM rate first mortgage on a Florida condotel, primary residence. Additional required amounts such as taxes, insurance, home owner association dues, assessments, flood insurance or other such required payments should also be considered. Not all individuals will qualify for a mortgage loan. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. **Posted APR is based on Mortgage Assumptions
 
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