|
|
|
|
|
|
| IHG Insurance (National Insurance Provider) |
| Providing Community Association Insurance for over 25 years: D&O Liability, Crime Products, Umbrella Coverage and Property Manager's Errors & Omissions Liability. |
|
|
|
|
|
|
| You are not authorized to post a reply. |
|
|
| Author |
Messages |
|
GeorgerwilliamsW
(Indiana)
Posts:768
 |
| 07/29/2008 2:58 PM |
|
Posted By JerryV on 07/29/2008 1:57 PM
We have a situation in our community (181 SFH) where an owner lives nearby but rents out his home. Both his tenants AND the homeowner and family/guests use the pool on weekends. Homeowners pay $600/year for water, common areas maintenance including a pool, marina and clubhouse. Our By-laws state that payment of the annual dues entitles the HOMEOWNER to the amenities. We are going to try to change the By-laws to specifically address this situation. I am on the Board and I am constantly arguing that we are collecting ONE assessment but have TWO families using the facilities as in the case of this homeowner.
Jerry,
Be sure to read the posting below from DJ. It has some good language about the problem you are describing. |
|
|
|
|
RobertR1
(South Carolina)
Posts:2513
|
| 07/29/2008 3:17 PM |
|
Jerry and Alex,
Donna has a nose for these document issues. Might serve you well to read yours, she is right to often to ignore.
George,
I don't think we will have long to wait anbd I don't think it will be in the direction to declare solar panels invalid and windmills probibited. I will be more like all homes will have solar panels and there will be community windmills for generating electricity. I can't see any other answer. |
|
|
|
|
RobertR1
(South Carolina)
Posts:2513
|
| 07/29/2008 3:20 PM |
|
| Go get him Jerry, he has rode the gravy train too long. If you can pro-rate him for back violations. |
|
|
|
|
JerryV
(Florida)
Posts:7
|
| 07/29/2008 4:01 PM |
|
| Thanks for the replies. Donna, I checked our docs and there is NO mention of usage by owners or tenants. We never had many rentals until 3 or 4 years ago (before the huge run-up in RE prices) 10% of the homes here are now rentals. What happened was a lot of "flippers" got these great ideas from watching those stupid programs on Sat. morning TV. Now a lot of them are stuck with houses worth less than they have in them and they have no choice but to rent them out. Don't get me wrong...most tenants are good neighbors, but the few bad ones cause more than their share of grief. And flippers aren't too picky about their tenants, as long as the check clears! They have no vested interest in the community. As soon as prices rebound, they are out of here. |
|
|
|
|
RobertR1
(South Carolina)
Posts:2513
|
| 07/30/2008 5:09 AM |
|
Jerry,
So, what do you plan to do about it, and how can you do anything about it?
Don't depend on the FHA to come in and enforce their rule of anytime a conodo reaches 20-30% rentals they won't give any more mortgages there. If you have a couple of Board members that rent their units, you will be in for a major battle. Can it be done? I think so. Could I do it? I didn't stand a chance, you have seen how quickly the picture changes during the last two years or so. It is more than just owners looking to flip property, it is the realtors, the bankers, the Mortgage makers that realize there is a ton of money to be made manipulating the property behind those closed gates. The allure is real. We have heard tales of woe and desparation from people that got in over their heads, and the trickle down is worse than the act, but you can bet your booty some made big money on this, cumulatively. And on and on.
So, if you can swing the deal, put a limit on the % of rentals. I rented in my life, and I am not against renters, they are innocent, my problem is when owners put the welfare of their investment ahead of the association by buying rental property at the detriment of the whole. And that is why, most covenants allow for rental restrictions and also why most associations don't have the power to change or add these covenants, because, sadly, it is often the Board and the owners lack the knowledge and the interest to see the train coming down the track. Good luck. |
|
|
|
|
|
| You are not authorized to post a reply. |
|
|
General Legal Notice: The content of forum messages are from the posting member and have not been reviewed nor endorsed by HOATalk.com. Messages posted by HOATalk or other members are for informational purposes only, are not legal or professional advice and do not constitute an attorney-client relationship. Readers should not act upon this information without seeking professional counsel. HOATalk is not a licensed attorney, CPA, tax advisor, financial advisor or any other licensed professional. HOATalk accepts ads from sponsors but does not verify sponsor qualifications nor endorse/guarantee any sponsor's product or service.
HindmanSanchez Legal Notice: (For messages posted by HindmanSanchez) This message has been prepared by HindmanSanchez for informational purposes only and does not constitute legal advice. This information is not intended to create, and receipt of it does not constitute an attorney-client relationship. Members of HOATalk.com should not act on this information without seeking professional counsel. Please do not send us confidential information unless you speak with one of our attorneys and get authorization to send that information to us. If you wish to initiate possible representation, please contact an attorney in our firm. Our attorneys are licensed to practice law in the state of Colorado only.
Legal Notice For Messages Posted by Sponsoring Attorneys: This message has been prepared by the sponsoring attorney for informational purposes only and does not constitute legal advice. This information is not intended to create, and receipt of it does not constitute an attorney-client relationship. Readers of HOATalk.com should not act on this information without seeking professional counsel. Please do not send any sponsoring attorney confidential information unless you speak with the sponsoring attorney or an attorney from the sponsoring attorney’s firm and get authorization to send that information to them. If you wish to initiate possible representation, please contact an attorney in the firm of the sponsoring attorney. Sponsoring attorneys that post messages here are licensed to practice law in a specific state or states as indicated in their message signature or sponsor’s profile page. (NOTE: A ‘sponsoring attorney’ is an attorney that is a HOATalk.com official sponsor and is identified as such in the posted message or on our sponsor page.)
|
|