As of today, Pacific Tower has 41 rental units out of 118 condos. If you’re an owner who rents out your condo, it’s important to know the rules.
Included in this issue is a shortened recent article from the San Diego Union Tribune about the owner of a downtown condo who rented out his luxury condo on a weekend basis – which was strictly against his HOA rules requiring a minimum 90 day lease. His condo association has the same attorney as Pacific Tower and they won the case against the owner. He was forced to pay over $100,000 for his violation.
Q. What is the minimum amount of time I can rent out my condo?
A. 3 months. A copy of the lease MUST be turned in to the office.
Condo owners MUST give their renters a copy of the Rules and Regulations. Ignorance of the rules is no excuse. Owners will be fined if their tenants break the rules.