The condo sale and management market is seeing new legislation that will enable the condo corporation to buy back every unit at current market value and turn every unit into a rental unit or buy half of every unit so as to participate in the equity increase in value of each freehold unit. In buying back half of the unit or or whole unit, the current owner is compensated accordingly and can pay an occupation rent on a lease only if the entire unit is purchased; a lease that would be arranged immediately with no maintenance fee. If half the value is purchased with the owner receiving his half market value, he is also still part owner and varying policies as to maintenance fees may involve a zero maintenance fee since the building owns now half of every unit and will share in the Half profits of any sale of the unit or a nominal maintenance fee could be collected for security, cleaning etc. In most cases, cases, buildings will involve half the units being rental units from now on and the other half will either be half owned or fully owned by private condo owners.
The condo sale and management market is seeing new legislation that will enable the condo corporation to buy back every unit at current market value and turn every unit into a rental unit or buy half of every unit so as to participate in the equity increase in value of each freehold unit. In buying back half of the unit or or whole unit, the current owner is compensated accordingly and can pay an occupation rent on a lease only if the entire unit is purchased; a lease that would be arranged immediately with no maintenance fee. If half the value is purchased with the owner receiving his half market value, he is also still part owner and varying policies as to maintenance fees
may involve a zero maintenance fee since the building owns now half of every unit and will share in the Half profits of any sale of the unit or a nominal maintenance fee could be collected for security, cleaning etc. In most cases, cases, buildings will involve half the units being rental units from now on and the other half will either be half owned or fully owned by private condo owners.
may involve a zero maintenance fee since the building owns now half of every unit and will share in the Half profits of any sale of the unit or a nominal maintenance fee could be collected for security, cleaning etc. In most cases, cases, buildings will involve half the units being rental units from now on and the other half will either be half owned or fully owned by private condo owners.
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