SteveW9 (New Mexico)
Posts: 37
Posts: 37
Posted:
Our HOA consists of 68 homes. Approximately ten of these homes have become rentals. Is there anyway to stop homeowners from renting these homes?
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Started by SteveW9 • 4 replies • 1242 views
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JaniceM1 (Georgia)
Posts: 27
Posts: 27
Posted:
Your CCRs should state whether renting is allowed. Most CCRs I have read allow leasing, not renting. Leasing of homes consist on a long term contract and renting does not.
Most have a mandatory clause to file a copy of the lease with the Property Manager.
Also, most community CCRs state only one family per household. This is to prevent room rentals.
Most have a mandatory clause to file a copy of the lease with the Property Manager.
Also, most community CCRs state only one family per household. This is to prevent room rentals.
MaureenM1 (PA)
Posts: 344
Posts: 344
Posted:
My development consists of 28 homes and 8 are rentals. All rentals in my development are owned by the builder who could not sell them. He transferred the deeds to family members for 1 dollar. When we purchased our homes the sales person told everyone that owns that the builder would keep maybe 2 or four for himself. He now has 9 (one is the model) and rents 8.
It states in our CCRs that anyone can rent. I know of some developments that put a cap on renting. We are still in declarant control. If you are not maybe you can do something like a cap, however, you will most probably need to consult an attorney if you haven't done so already.
It states in our CCRs that anyone can rent. I know of some developments that put a cap on renting. We are still in declarant control. If you are not maybe you can do something like a cap, however, you will most probably need to consult an attorney if you haven't done so already.
KirkW1 (Texas)
Posts: 1,665
Posts: 1,665
Posted:
If your developer transferred the units to relatives then you should not be under developer control. Not that it would surprise me that a developer would try and play both sides of the fence. Ours certainly has been doing so.
RobertR1 (South Carolina)
Posts: 5,164
Posts: 5,164
Posted:
To all,
May I suggest that some of this advice about this subject is State specific, and maybe even city specific. In any event, it would help if when this subject comes up we be specific and sure about the designation of the Association, whether Condo or HOA.
Maybe it would also help the OP to suggest he/she use the search feature top right this page. Enter rental units or some such and I would think there is a wealth of information there.
Regards the developer selling all but one unit. I suspect there is some consideration in the CC&R's that states he has to sell all units before he has to turn over. In view of the present state, I really think the owners should be preparing to have all the ducks in a row come turn-over time and there be considerable effort to gather all the information now about what shape the association is likely going to be in come turn over time. If the developer does not allow for owner input into management now, I would consider forming a Owners Only group to discuss ways of insure this turn-over holds no surprises.
May I suggest that some of this advice about this subject is State specific, and maybe even city specific. In any event, it would help if when this subject comes up we be specific and sure about the designation of the Association, whether Condo or HOA.
Maybe it would also help the OP to suggest he/she use the search feature top right this page. Enter rental units or some such and I would think there is a wealth of information there.
Regards the developer selling all but one unit. I suspect there is some consideration in the CC&R's that states he has to sell all units before he has to turn over. In view of the present state, I really think the owners should be preparing to have all the ducks in a row come turn-over time and there be considerable effort to gather all the information now about what shape the association is likely going to be in come turn over time. If the developer does not allow for owner input into management now, I would consider forming a Owners Only group to discuss ways of insure this turn-over holds no surprises.
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