Q: Our condominium has more than 2 million square feet of unused common space. It seems like a no brainer to invite a food-and-drink vendor to use the space and charge rent based on a percentage of gross sales. Do we need to worry about violating Federal Housing Administration financing requirements? Are there other issues we need to be aware of? —Orange Beach, Ala.
A: Renting common space to a vendor is a good idea, but you’re wise to consider potential landmines.
This article first appeared in Community Associations Institute's Common Ground magazine in the May/June 2016 issue.