Buying Second hand condo vs New Condo
I'm thinking about a rental condo for a family member in Downtown Vancouver, but I've never lived in condo. From what I hear there are limitations to rentals if I'm not the original owner.
1.I hear that a condo building has a limitation of number of units it can be rental units. If there are other first hand owners who are renting their units, they always budge in front of the queue so a second hand owner has to wait in queue to rent.
2. Also, is it true that a condo even if there is nothing wrong with it has to be demolished after a certain time (like say 50 years) for a freehold strata. I can understand this to be the case for leasehold strata.
Care to tell us your thoughts?
1.I hear that a condo building has a limitation of number of units it can be rental units. If there are other first hand owners who are renting their units, they always budge in front of the queue so a second hand owner has to wait in queue to rent.
2. Also, is it true that a condo even if there is nothing wrong with it has to be demolished after a certain time (like say 50 years) for a freehold strata. I can understand this to be the case for leasehold strata.
Care to tell us your thoughts?
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