RENTERS/OWNERS

Started by JoeD1 • 8 replies • 1459 views

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JoeD1 (Florida)
Posts: 2

Posted:

CAN A CAP BE PUT ON THE NUMBER OF RENTAL PROPERTIES IN A HOA COMMUNITY

RobinL1 (Florida)
Posts: 17

Posted:

Yes, our documents say that you can only rent out your house for 7 months of the year. It is a 55 plus community, so they have to meet that criteria too.

DonnaS (Tennessee)
Posts: 5,671

Posted:

Joe,
Yes you can. It will be stated someplace in your Documents. IF it is not included in your CC&Rs someplace, then it can be enacted to them thru an amendment to your docs, which is a vote from the entire membership (owners). Many communities try to do this, some being successful and some it will never pass. There are many ways that you can restrict rentering, which is what is where your creativity must come forward. But you still must follow Fair Housing Act and other Federal restrictions.

BradP (Kansas)
Posts: 2,640

Posted:

Joe:

I would think it would depend on where you live, our attorney said we legally couldn't do it.

DonnaS (Tennessee)
Posts: 5,671

Posted:

Brad,
There are so many laws governing being fair to ethnic, age,religeon, gender and whatever else there is BUT what you can do is limit lease terms, limit number of years owned before you can rent.(This eliminates flippers and mulitple ownership, absentee landlords , and the "hotel" system--ins and outs) and percent of rental units in a developement. It is non discrimatory as for laws but does give an association the ability to keep their units from being like the Comfort Inn business. There are pros and cons to non renting and any associatoin considering this should do their homework. Sometimes it shoots itself in the foot with the way real estate is now.

JoeD1 (Florida)
Posts: 2

Posted:

NO THIS IS A 58 HOME COMMUNITY----

GlenL (Ohio)
Posts: 5,491

Posted:

While my memory is not what it used to be, I believe that there was a court ruling on this matter within the past year or so to the effect of - if the original governing documents allowed rental units then they could not be banned. Use the search feature and put in rental or rental ban and it should pop up.

Studies show that 5 out of 4 people have problems with fractions

DonnaS (Tennessee)
Posts: 5,671

Posted:

Glen,
You said that there is a court ruling on not banning rentals if the original governing documents allowed for them? Do you mean Federal or State. Many State HOA'S do have a "Grandfathering clause" but that is all that I am aware of. If you know more, then make all of us a little smarter. Thanks

GlenL (Ohio)
Posts: 5,491

Posted:

Donna like I said the memory isn't what it used to be, I do remember it being posted here. There is an excellent article on this matter by Richard Thompson at:

http://realtytimes.com/rtcpages/20020102_hoarentals.htm

Look at the paragraph below #5

Studies show that 5 out of 4 people have problems with fractions

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