HOA says you can not rent your house - John Reinhardt RE/MAX
John Reinhardt
RE/MAX Greater Atlanta
678.784.4440
I decided to work from home today. My dog started to bark to warn some strangers were filming the front entrance of my subdivision. These strangers then proceeded into the subdivision.
About fifteen minutes later we were cleaning up the mess of chocolate bananas the trash company left smashed in the street attracting ants crawling up my driveway. A SUV drove up telling me that they were the local news doing a story on the subdivision. A home owner could not sale their house & wants to rent it out. The HOA board passed an article that would not allow home owners to rent their houses in this subdivision. The reporter state that the home owner felt that this was a hardship case. What do you think?
Is just because someone can not sale their house is this considered at hard ship case in which the HOA should resend their past rules against renting in the subdivision?
I understand why HOA’S would not allow a home owner to rent their house. It can really decline the value of a subdivision fast.
We might be seeing a lot more home owners fighting their HOA’S in the news.
John Reinhardt
RE/MAX Greater Atlanta
678..784.4440
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June 19, 2008 at 8:36 pm
My HOA has very specific cases listed in our condo docs for hardship cases, one of those cases having something to do with the owner having had their unit listed on the market for more than 8 months.
I don’t know if the case is different for single-family neighborhoods, but our condo association’s 25% cap is based on very strong standards in the industry. Should we exceed that cap, the association’s insurance costs would skyrocket, buyers would have a more difficult time getting mortgages approved, and the value of the property would go down.
I think you’re correct, however, that there’s a pretty good chance of more conflicts with HOAs in the coming months. This is not an easy time for many people, especially home owners. Studies have shown that local economies with more rental housing have lower rates of unemployment — this is largely thanks to the value of residential mobility for the local economy. Home owners, in contrast, have a more difficult time in moving.
Should more HOAs accept the 25% standard, it would have a beneficial effect on our economy, without jeopardizing their subdivisions’ owner-occupied character.