Where the filed condo declaration explicitly granted owners the right to lease, and a condo board enacted a rule that denied 70% of unit owners that right by means of a "lease cap," an arbitrator has declared the rules inapplicable to plaintiffs, who purchased prior to the effective date of the lease cap. The arbitrator's award states that amendment to the declaration is required to impose a lease cap.Content may continue . . .

Tags: lease cap

Some downtown Austin condos assert they can impose leasing caps without getting a super-majority of owners to amend the filed declarations. Their arguments don't stand up to scrutiny.Content may continue . . .

Tags: leasing cap, lease cap, condo leasing cap, condo lease cap, downtown austin condo leasing, downtown austin condo bylaws, downtown austin condo leasing rules