Update on Lender Exemptions From Leasing Restrictions, by Brian P. McLean

The FHA announced that associations who give some flexibility to bank-owned properties from transient leasing prohibitions are once again eligible for FHA approval. To be eligible, the association will either have to amend its governing documents or provide a statement on association letterhead that no units are being leased for less than 30 days and tenants are not being treated like hotel clients.

Brian P. McLean

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