Leave a Message

Thank you for your message. We will be in touch with you shortly.

Should Our HOA Restrict Rentals?

Dear Monica: The Homeowners Association where I own a condo is proposing a change to the rules that would restrict the ability to rent one’s unit. Is this a good idea? Mary C.
 
Dear Mary: As a real estate broker, I have seen many times where any restriction on the use of one’s property diminishes its value. It is a sweeping change affecting everyone. Would exceptions be allowed? If you have to move for a job or other life reason but want to hold on to a property for economic, tax or other reasons, would this be allowed? 
 
You should also look at the demographic in the complex. If most present owners are older, how would a new and younger buyer look at this restriction? Likely not well. The number of people who will want to buy a property with this restriction is much smaller than without the restriction.

Work With Us

Every client relationship begins with asking the right questions. Understanding your current real estate situation, goals, and preferences is where we start. Let's meet for a conversation.

CONTACT US