P.R. Laws tit. 31, § 1299
(a) The developer may designate as commercial units any independent use units in the real property that are not to be designated as lodging units or residential units, whether to sell them in fee simple or to lease them to third parties or for his/her own use for commercial purposes.
(b) Commercial units shall not participate under the leasing program or be subject to the payment of program administration expenses. Notwithstanding the foregoing, the owners of said units may, in their discretion and according to the terms individually agreed upon and from time to time, lease their units for commercial use and contract with the administrator or agent for them to act as the administrators thereof. The proceeds obtained and expenses incurred by the administrator or his/her agent as a consequence of said contracts shall not be part of the proceeds on account of the leasing program, program administration expenses or basic expenses. The expenses or proceeds resulting from said administration activities shall be at all times accounted for separately from the proceeds of the leasing program, program administration expenses or basic expenses. The funds managed by the administrator or his/her agent with respect to such contracts shall be deposited in accounts separate from the leasing program accounts or those related to the administration of the common property. The use of leasing program funds or any funds related to the administration of the common property with respect to such contracts is hereby prohibited.
History —Aug. 12, 2008, No. 249, § 7.101; Dec. 16, 2009, No. 178, § 16; June 24, 2010, No. 67, § 16.