ElizabethB1 (Arkansas)
Posts: 50
Posts: 50
Posted:
I'm back with more questions--trying to learn all I can. It seems SC doesn't have the legal statues for HOA's like other states. So any advice is greatly appreciated.
To give some background on my community-it is multi-layered. There is the town which rules zoning, etc.; then there is a POA, which is behind a gate. Finally behind the gate, there are neighborhood associations. Weeding through all the info is very taxing.
Immediate questions I have are as follows:
1. Pertaining to renters: I know my neighbor regime has nothing in the bylaws or cc&r regarding renters, long or short term. Any suggestions on what to add or not add to bylaws?
2. Every time a property is sold within the community, the buyer pays a % of purchase price to the POA and a % to neighborhood association. This is a one-time hit for the buyer. Annual dues are required too. With the downturn in real estate, one now sees the one-time % may not be a smart thing to do. A potential buyer could go down the road and buy a similar property and avoid the "tax". How do other HOA's handle this? Do you charge a buyer a % of the selling price?
I love this forum. In my permanent home state, there are very few POA/HOA's. Learning about S.C.'s rules (or lack of) is quite the experience.
Thanks.
Elizabeth
To give some background on my community-it is multi-layered. There is the town which rules zoning, etc.; then there is a POA, which is behind a gate. Finally behind the gate, there are neighborhood associations. Weeding through all the info is very taxing.
Immediate questions I have are as follows:
1. Pertaining to renters: I know my neighbor regime has nothing in the bylaws or cc&r regarding renters, long or short term. Any suggestions on what to add or not add to bylaws?
2. Every time a property is sold within the community, the buyer pays a % of purchase price to the POA and a % to neighborhood association. This is a one-time hit for the buyer. Annual dues are required too. With the downturn in real estate, one now sees the one-time % may not be a smart thing to do. A potential buyer could go down the road and buy a similar property and avoid the "tax". How do other HOA's handle this? Do you charge a buyer a % of the selling price?
I love this forum. In my permanent home state, there are very few POA/HOA's. Learning about S.C.'s rules (or lack of) is quite the experience.
Thanks.
Elizabeth