Quote:
Posted By SusanW1 on 05/07/2008 4:55 AM
Why?
IF the CCRs allow renting, and the board can prove from past documented expereince that renters are a high risk, I see nothing wrong with placing a "bond" on the owner who wants to get involved in this side endeavor with his/her property.
It's no different than a security deposit, only it goes to the association.
I think it's a judgment call from the Board. Apparently, there have been problems with renters. Any costs should be forwarded on to the renter.
This would be laughed out of any court. Never get that far.
Susan, au contraire mon amie if I had a rental property and someone was using the clause cited to require me to post bond, I would have them in court in a heart beat. I'm not saying they can't do it. I would have to read all of their CC&R's, read the resolution and be familiar with Virginia law etc. before I could arbitrarily say with any degree of certainty that they can't. And while the H/O certainly has the right to pass the costs of any enforcement action to the tenant if it's in their lease the HOA should be dealing with the H/O.
When our BOD drafts a resolution we have it vetted by our attorney to make sure it's proper and allowed by our CC&R's and state law. This does not mean that it will automatically stand up to a challenge just that we have done our due diligence and believe it to be proper and allowable. We do not know if this was done in this case.
Studies show that 5 out of 4 people have problems with fractions