Council for Quality Growth Offers an Amendment to Cobb BOC Proposed Urban Condominium Changes

The Council for Quality Growth last night, provided comments to the Cobb County Board of Commissioners and offered a proposed amendment to the county’s proposed code changes that would have allowed condominium owners to rent more of their units to likely lessees, in a recovering economic market; rather than remain stuck in their current condo or forcing them to sell well below the value they purchased their home.   The Council would have optimally liked to leave the current code as-is but recognized the need for compromise and offered an amendment that would set the maximum rental rate in a condominium association to reflect the current percentage allowed by the Federal National Mortgage Association.Unfortunately, the commissioners reduced the maximum to ten percent, although condominiums can request a larger number on a case-by-case basis. The change will now go through the planning commission and Board of Commissioners, which can add a delay to a process that could cost individuals unneeded time and money.

To read the official comment submitted to the Board of Commissioners, click HERE

To learn more and read the full article click HERE