Buying an LLC to gain rental privilege? allowed?

[David Zheng]

Hi!

So basically theres a condo in to a very good complex that I want to buy and rent out. however the HOA only allows 12/60 units to be rented. its extremely rare for a unit to become available to rent and when it does, every unit gets entered into a raffle to see who gets the rental status.

this unit I'm buying is being sold by the original builder of the complex and so has an LLC that allows it to be the SOLE exception to the 12/60 rule and therefore is the 13th rental allowed. now this unit is the only one left under the LLC and so the owner is willing to "sell" me the LLC in order to keep rental status.

Is this allowed or will it break any laws I'm not aware of?

Thanks!

[Patrick Liska]

Essentially you are buying the business from him, as long as there is nothing in writing that states that if he sells the business that agreement becomes null and void, you should be fine with it. have a lawyer check over any agreements on that before you purchase it.