Renters and the HOA
Sunday, September 6th, 2009High Value Rental Homes and Homeowner Associations
Are you renting a home in “high-end” subdivision? Sales are sluggish and homeowners are doing what they can to offset expenses. As you rent your next home you may find you are NOT renting in a traditional sense from the owner or a property manager…
Instead, renters may find they are renting from the Homeowner association as a MAJOR participant in the lease. HOAs want the control of assessing fines and fees for non-compliance. Eviction based on non-complaince to the HOA rules and regulations are also a possibility. These issues are added to the property manager’s lease requirements or the homeowner’s lease terms.
When renting in a high value subdivision or condo complex, do some preliminary effort and ask for a lease early in the process. Take the time to read the lease prior to getting emotionally involved in the home of your dreams. Leasing may not be as “traditional” as anticipated.
