I can imagine many of the permanent residents at this nice development are not pleased with the intended rentals of the condos as recently presented. This could be a real disaster for these owners if investors are permitted to rent for terms shorter than at least one month. Very little control of nightly, weekly or weekend renters can be established or enforced. In this short rental time these renters could do unrecoverable damage to the units or the common elements. Even a healthy deposit may not fully recover the cost to repair such damage and it would be expensive legally to pursue with the possibility of still no recovery. The disruption from noise from these short-term renters will, without doubt, present itself. If these are considered "condominiums," and not a motel/hotel complex, this development well falls under Ohio HB-135.
If these units are considered condominiums, the owners can request to have the bylaws amended, with a 75 percent vote of the association. Hopefully, at least 75 percent of the owners intended to be permanent residents and were not only investors for rental income -- or the chance of such an amendment passing would be scarce.
If I were an owner at this development, I would read the contract and/or bylaws carefully and if applicable, request a bylaw amendment soon! There are firms locally and in the Cleveland area that specialize in such law practice as well.
Also important: The owners should find out what percentage of the monthly fees/dues are being withheld as a reserve fund. New owners may be surprised to find large assessments at some point if no reserve fund is in place. Again, Ohio HB-135 requires legally a minimum of 10 percent for such reserves.
Don Bergmoser, president
Lakefield Manor Condominium Owners Association