Quote:
Posted By DorothyT2 on 11/15/2015 4:08 PM
to JohnC46....how/why is it a mistake to put restrictions on renting a home in the R&Rs? My HOA has a one year waiting period after purchase before renting is allowed.
It might not be a mistake unless it is an attempt to override any restrictions in the Covenants/Bylaws and that is where many BOD's get in trouble by trying to do such.
R&R's can be modified by the BOD. Make one on a Monday and the BOD can change it on Tuesday thus do not bet on an R&R holding up for ever.
As an example, our Covenants say no one can rent/lease their unit within the first 6 months of ownership. The BOD cannot override this with a R&R such as to 3 months nor to one year. At least 2/3rds of our owners would have to agree to a change. There have also been rulings where such a change could take 100% of the owners agreeing to the change but that is another subject.