Rentals

I am on the board of an HOA that just started up this year after turn over by developer/builder. We are a 55+ covenants community incorporated as such in the state of Georgia. We have had a lot of discussion about rentals in our community. We want to amend our covenants prior to someone renting to an individual that is not 55 years old, or to someone that has a child (obviously not 55). We must keep it only at 55+ or lose our standing as we understand. Any information out there about rentals, how to be sure the prospective renter knows we are 55+, etc.

Thank you, Bruce A.

BruceA- I’m interest in reading what other advice you receive on this topic. I don’t know what restrictions can or can’t be written in you by-laws. I feel any and all of the CC&Rs established, that the landlord of the property be held accountable.
I don’t feel rental property should be in an HOA community as it is, but I don’t speak for all of the community either! I’m not a HO that rents out his property and I’m not a HO that receives x number of Dollars in additional income per year either. So I can see where some HO could be offended by my opinion.
I just feel if renting is allowed then the HO should be held accountable if the tenants have violated the CC&Rs.

IMO
Chuck W.

I'm almost to 55+ LOL Just a little longer.

I have a question that came to mind... and I ask from simple curiosity.

Can an HOA stipulate that no-one over the age of 55 live there and that all residents must have children? That would be considered discrimination against older folks and prosecutable, right?

One could challenge that the 55+ , no children HOA is discriminating against the younger folks. Or even against the millions of grandparents that are raising their grandchildren.

Since I am raising a grandchild,(now 8 yrs old and had her since 1 yr old) it will be many years b/4 I can live in a 55+, no children community.

I have met many people that are older than I and raising their grandchildren. Several have had to chose between their retirement communities and their families... it takes a family tragedy and amplifies it unbelievably. These dear, generous people are then socially separated from their peers and feel alone and isolated. It is a sad, sad thing.

Ok, that is my social awareness class for this week.

BruceA
I am on the board of an HOA in Maryland. In our state if rentals become 30% or more in a private community, mortgage companies are no longer required to write mortgages. We have only 170 units so we are tracking our situation and we plan to pass a rule which will prevent homeowners from renting their homes in our community if it gets to the 20% mark.
We have been advised by our attorney that to maintain a stable enviornment and retain the property values we would have complete legal authority to take this action.
Since yours is a new HOA I would think the board could pass such a rule now instead of later.
Your home values will certainly decrease once renters start moving in. They have nothing to lose and could care less about the appearance of the home they rent. They can always pick up and move.

JamesC,

Could you give me the information you found about how to restrict renters in an HOA neighborhood? Your response is great, well worded. I believe that rental properties will bring my property values down. IMO, I believe tenant don’t have the pride many HOs may have. They can literally pack up and leave. There has to be some reason for an individual to want to rent. I know lawn maintenance, house repairs and any upkeep are just some of the many expenses I accrue throughout the year. I spend a great deal of money and time with the appearance and pride I have for my home. I would assume the same kind of pride isn’t found in many of the tenants of rental properties. Why should they? They don’t want that responsibility, which is why they are renting in the first place.
A HOA community is for HOs that want their investment to reach its full potential.

Why else would you want to live in a HOA community?
Chuck W.