GeorgeJ4 (Ohio)
Posts: 5
Posts: 5
Posted:
The VA will not approve our association because we allow rental of units. How can we disallow rentals and is that a good idea and is it legal?
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Rental of hoa units
Started by GeorgeJ4 • 5 replies • 1029 views
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MelissaP1 (Alabama)
Posts: 13,836
Posts: 13,836
Posted:
Question? How important is having VA approval? It may be one of those trade offs. With the economy the way it is, will people need more to rent their homes or qualify for that VA funding?
Former HOA President
GeorgeR8 (Arizona)
Posts: 182
Posts: 182
Posted:
We don't allow rentals. It does involve changing CC&Rs. When we did it current renters were grandfathered.
We aren't VA approved. We have about 400 associations in 14 square miles and not 1 is VA approved.
We aren't VA approved. We have about 400 associations in 14 square miles and not 1 is VA approved.
JanetB2 (Colorado)
Posts: 4,219
Posts: 4,219
Posted:
Melissa hit the nail on the head for the first part of your question. For the second part it would depend on what your governing documents allow. The Board itself cannot regulate or make rules for rentals. Any regulations need to be contained in the CCR's agreed to by all owners. Also, if they are changed by a vote of majority ... you need to consider grandfathering any units who currently have renters until such time as they change. Essentially under most state laws a unit owner has their own legal responsibilities towards their renters and the HOA cannot violate their legal rights.
JanetB2 (Colorado)
Posts: 4,219
Posts: 4,219
Posted:
Quote:
Posted By JanetB2 on 08/25/2017 5:33 AM
Melissa hit the nail on the head for the first part of your question. For the second part it would depend on what your governing documents allow. The Board itself cannot regulate or make rules for rentals. Any regulations need to be contained in the CCR's agreed to by all owners. Also, if they are changed by a vote of majority ... you need to consider grandfathering any units who currently have renters until such time as they change. Essentially under most state laws a unit owner has their own legal responsibilities towards their renters and the HOA cannot violate their legal rights.
Melissa hit the nail on the head for the first part of your question. For the second part it would depend on what your governing documents allow. The Board itself cannot regulate or make rules for rentals. Any regulations need to be contained in the CCR's agreed to by all owners. Also, if they are changed by a vote of majority ... you need to consider grandfathering any units who currently have renters until such time as they change. Essentially under most state laws a unit owner has their own legal responsibilities towards their renters and the HOA cannot violate their legal rights.
Since we cannot edit posts I want to clarify my above last sentence. I meant to state that any Unit Owner who has a "current" renter is obligated to follow laws with regards to their "current" renter. If the CCR's are amended in the future then any Owners would need to follow the future CCR's for any "future" renters obtained after any such changes.
KerryL1 (California)
Posts: 14,550
Posts: 14,550
Posted:
We're a condo association and rec'd VA approval a couple of years ago. We're about 30% rentals.
What the VA will not pporve is a buyer who wants to purchases a home that they don't occupy, i.e., a rental.
Are you certain you understand the reason VA turned you down, George?
What the VA will not pporve is a buyer who wants to purchases a home that they don't occupy, i.e., a rental.
Are you certain you understand the reason VA turned you down, George?
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