[tingletech]

I'm not sure the exact point of the grand parent post -- but for a multi-unit building with the units titled as condos (which would usually have an owner's association) the rules for getting conventional financing in the US (I'm spacing on what those are called) dictate a certain percentage of the units must be owner occupied, lest the loans are not re-sellable in the secondary mortgage markets.

Condo HOAs will thus sometimes try to pass rules or amend bylaws to establish rental restrictions of various sorts -- most commonly setting a minimum lease term, but sometimes trying to set percentages of units that must be owner occupied, limiting the numbers of units that can be owned by a single owner, or establishing a time frame a unit must be owner occupied before it can be rented.

My understanding is that most of the new apartment buildings they are building around me in Oakland and trying to rent out are "pre-converted" or already titled as condos -- but as the investors are renting them out generally there is no HOA to speak of as there is one owner. But, should market conditions change, common areas and separate titles are already established so less paperwork would be required to sell off the units.