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How Many Rental Units Will a Lender Allow in a Condominium Building?

 

It depends on whether or not the building is new or existing. If the building is new, 51 percent of the units must be sold to those buyers who will occupy their unit. If the development is not new (which is considered existing) a lender will allow in excess of 49 percent of the units to be occupied by renters.

Continue reading and learn more about new and existing condo warrantability. Also, learn more about what is involved when buying in a newly constructed condo building.

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