Renters Vs Owners

Started by JimB37 • 5 replies • 579 views

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JimB37 (Florida)
Posts: 76

Posted:

I'm curious as to how your different communities look upon one group or the other. Our community originally had limits as to the number of rental properties, now that has changed with a Board controlled by remote landlords. Now, owners are in the minority and the community is changing. There are good renters and bad renters just as there are good and bad owners, so I don't want to go there. From my personal experience, I've seen that at least one community dominated by remote owner-landlords has developed a different personality and a different sense of community than those dominated by owners. I also have a sense that things are becoming adversarial. I would like to know what your experiences have been, and if you have a great community that is based upon rentals, or a good combination, how you go about accomplishing that.

AugustinD
Posts: 5,144

Posted:

For discussions of what too many renters can do to a condo complex, see:

https://www.marketwatch.com/story/too-many-renters-are-a-bad-sign-in-a-condo-complex-2015-04-27

https://www.condoassociation.com/blog/25-of-70-units-are-rentals-in-condo-building.-too-much

https://www.sboneinsurance.com/complete-condo-buying-checklist-many-renters-association/

https://www.bogleheads.org/forum/viewtopic.php?t=170729

The condo members who are landlords have the advantage of pointing to the governing documents' rules that allow rentals. Prospective buyers should give the rental percentage, and what the governing documents say on this point, close attention.

Once the number of landlords goes above 50%, it will be hard to get rid of a board that sides with the landlords, when it comes to disallowing rentals or setting a cap on the percentage of rentals.

JimB37 (Florida)
Posts: 76

Posted:

Thank you for the links. Good, albeit depressing, information.

GenoS (Florida)
Posts: 4,276

Posted:

Jim, I'm curious... if you used to have limits on rentals how is it that those limits came undone? Once a majority of owners is composed of off-site owners and/or investors it becomes very difficult for the owners who actually live in the community to regain control.

My HOA has 100 units and in the past 5 years there haven't been more than 6 or 7 renters at any one time. We've had problems with about half of them but the other half have been great people anyone would be happy to call neighbors.

JimB37 (Florida)
Posts: 76

Posted:

Good question. I think it is a result of a couple of factors, including some apathetic owners who voted for some people just to spite other members, as well one individual who has gotten do-nothing people to run for the board. Since landlords now outnumber owners, they can do it. They put people on the board that literally do nothing except vote when they're told to. When it looks like that perhaps that a vote might be coming up that they might not win for some reason, they simply don't show up. Pathetic.

JohnC46 (South Carolina)
Posts: 14,265

Posted:

Jim

Te to seize control of your BOD via elections of course.

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