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Updated almost 11 years ago,

User Stats

8
Posts
4
Votes
Jonathan Z.
  • Investor
  • Cleveland, OH
4
Votes |
8
Posts

Multiple Un-related tennants

Jonathan Z.
  • Investor
  • Cleveland, OH
Posted

How have you have handled a situation where a local ordinance regulates rental properties to allow only 3 un-related occupants. This seems to be a common ordinance in cites with universities, and in New York City from what I understand. However, it has to be largely overlooked in cities such as NYC, because housing would not be possible for many people given the rental rates. And as everyone is aware, in college towns, students like to cram as many people as they can in house, and the property owners in said towns usually command higher rents. Any thoughts from a lease agreement standpoint?