Question on Condo Rental

[Dawn Anastasi]

I was told by someone that if a condo association only allows "owner occupants" that a way to get around this is to make the renter a 2% "owner" only while they are renting. When they terminate their lease they give up any ownership rights.

This sounds a little fishy to me, but this person says they've been doing it this way for years and the condo bylaws specifically do not define what an owner "is".

Anyone ever do this?