In the past half decade, the relationship between those who own property (particularly property in cities that are popular for tourists) and those who want to travel has changed drastically. While travelers used to be restricted to hotels or hostels to meet their housing needs while away from home, the advent of short-term housing sites offering stays from one night to a month or more, like AirBNB, has revolutionized how to both travel and make money. But while AirBnB and similar sites may be great for vacationers and the property owners who make money by renting their homes, there are numerous downsides of short-term rentals for condo associations and the community at large.
One of the perks of owning property, especially a condo, is that owners may be able to rent out their condo out as a source of income. As such, condos are often a popular source of investment, as condo owners are usually free to rent out their properties to whomever they’d like, and at whatever rent they set, without intervention from a condo association board. However, this freedom can be a catch-22; owners are free to do with the condo what they like, but when problem tenants exist, resolving the issue can be a problem for the owner and the condo association.
While a person who buys a residential home typically has the right to do nearly anything with their home that they want, including own a pet, there are some unique rules regarding pet ownership as it pertains to condo associations. While the topic is controversial, condo associations have the right to prohibit condo owners to keep pets, or can place limits on the types or numbers of pets that owners can have.
In late May 2017, a Lynn man was injured in a car crash that was caused by a drunk driver on Storrow Drive near the Charles Street exit. According to a report published by CBS Boston, the injured man was talking to police outside of his vehicle (he had been pulled over for traffic violations), when the incident occurred.
RESPA, or the Real Estate Settlement Procedures Act, is a law that has been in place since the 1970s, and is designed to help protect homeowners during the home-buying process. In 2013, the Dodd-Frank Act was passed, which enhanced disclosure requirements found in RESPA.