Chapter 40 B for Mass

[Darina Pogodina]

Hello BP Community1

I am looking into affordable housing that falls under Chapter 40B for Mass Housing.

Questions:

1) If I qualify and move in one of the condos, can I rent the place out after some seasoning in a year or two? Or ,perhaps , can I rent one rooms to someone or do Air Bnb occasionally, while still living there? Will this be prohibited even though I will owe the place? How does HOA treat this process? Not that I am going to announce that to HOA, however, they oversee everything and I am mot sure this can become a problem. Basically, I am looking to get some income on my residential property. May this work with Chapter 40B?

2) What are the restrictions to deed, if any? When can I resell the property and can I sell it at market value or it will be discounted for a long time?

Thank you all for your thoughts.