Builder owned HOA rental conflict

Started by MeganC • 1 replies • 1206 views

💬 Join us to post & get advice from 50,000 HOA & Condo leaders.

⚡ Takes 30 seconds

Already a member? Log in

MeganC (Illinois)
Posts: 1

Posted:

Our HOA is still owned by our builder. Anyone purchasing a home in our community must sign an agreement to not use the property for investment purposes for the first year of ownership. However, the declaration pages of our HOA state that one can rent out their property. The HOA management company says they cannot do anything about renters due to the what is written in the declaration. The builder is not enforcing the initial contract, and we have numerous rentals in our community, several that I am sure were not owner occupied or vacant for the first year. It seems like false advertisement to tell us no rentals, then allow them by way of the declaration. What can we do about this?

CarolineS (Georgia)
Posts: 5

Posted:

Megan,

Check to be sure a new Covenant has not been filed.

When I purchased the covenant I received did not have an amendment that was filed to allow rentals upto 25%. We have since found out that owner-occupants received on set of docs (no amendment) and investors received a updated set (with amendment).

Good Luck!

🎯 You've read this entire discussion

Join the conversation with 50,000 HOA & Condo Leaders:

✓ Ask follow-up questions
✓ Share your experience
✓ Get expert advice
✓ Access 350,000 discussions

Create Free Account →

⚡ Takes 30 seconds

Already a member? Log in here