Are there restrictions on how much I can charge for rent on my condo unit?

In New Hampshire, condo owners are subject to certain restrictions regarding how much they can charge for rent on their condo units. Although the law does not limit the amount that a condo owner can charge, it does require owners to follow certain guidelines. The New Hampshire Condominium Act requires owners to set rental prices that are “reasonable” and in accordance with the terms of the condominium documents, which can be found in the condo association’s bylaws. The rental prices must also be kept in line with similar units in the same building or complex, and any increases must be reasonable and non-discriminatory. It is recommended that before any rent increases, a condominium owner consults with an attorney and/or accountant to make sure that the increase is legal and within the bounds of the Condominium Act. In addition, condo owners must also abide by the state’s landlord-tenant laws regarding rent security deposits, late fees, and other rules. These laws are designed to protect the condo owner’s rights, as well as the rights of tenants. For example, a landlord must return the security deposit within a certain amount of time after the tenant leaves and must also provide a receipt for any rent payments. Condo owners can benefit from familiarizing themselves with the legal requirements of renting out their condo unit, as it can help to avoid any misunderstandings and disputes. Ultimately, the rent amount must be “fair and reasonable” under the state’s condo law.

Related FAQs

What is the process for filing a complaint with the condo association?
What can I do if my condo association isn't following the rules?
Are there restrictions on how I can use a shared balcony in my condo complex?
Am I allowed to install additional security measures in my condo unit?
Can I appeal decisions made by the condo board?
Who is responsible for taking care of common areas in a condo complex?
Are there restrictions on how I can use my condo unit?
What are the laws regarding parking in a condo complex?
What is the process for resolving conflicts between owners in a condo complex?
Is the condo association responsible for taking care of shared areas in the complex?

Are there restrictions on how much I can charge for rent on my condo unit?

Related FAQs

Related Blog Posts