The Real Deal Miami

Condos get new life as rentals

November 07, 2011 04:43PM

A modified Florida law making it easier to dissolve condominium
associations has led to a number of condos being converted back into
rental apartments, especially in the state’s suburban areas, according to
the Sun Sentinel. “Most people see this as a way out because it should
not have been a condo in the first place,” said Jennifer Drake, an
attorney for Becker & Poliakoff in Fort Lauderdale. At least 36
condos in Broward and Palm Beach counties have been changed back into
apartments in the last three years, according to a report from Condo
Vultures. But the movement is finding opposition. “I don’t want to live
in a rental community; that’s why I bought a condo,” said William Bush, a
board president in Weston. “I think people would be dead-set against
it.” [Sun
Sentinel]