[eventusstultorummagister]

Originally Posted by bledsoe3

How did you get a unit number from those examples?

I called him. When I mentioned the 2006 CC&R stipulation (ban) he stated that his lawyer advised him that the restriction prohibiting rentals was tantamount to a "restraint on alienation". It's a real legal principle, I looked it up: Restraint on alienation - Wikipedia, the free encyclopedia
He told me that the restriction was not enforceable and the only way the HOA could enforce the restriction would be to sue him in which case his lawyer would argue constitutionality, then he hung up.

Guess I'll have to look elsewhere for a $20K condo...

[repru]

Originally Posted by eventusstultorummagister

I called him. When I mentioned the 2006 CC&R stipulation (ban) he stated that his lawyer advised him that the restriction prohibiting rentals was tantamount to a "restraint on alienation". It's a real legal principle, I looked it up: Restraint on alienation - Wikipedia, the free encyclopedia
He told me that the restriction was not enforceable and the only way the HOA could enforce the restriction would be to sue him in which case his lawyer would argue constitutionality, then he hung up.

Guess I'll have to look elsewhere for a $20K condo...

He is dreaming. Only way to beat a rental limit is procedural...the HOA did not do it correctly.

In the interim the HOA will simply fine him and lien the place to hell and gone. I doubt they can or will foreclose unless he stops making his HOA payments. If they get annoyed enough they might go for an injunction.

Note that this clever landlord can get caught between the HOA and the tenant. The problems with the HOA in no way invalidate the lease.

The 20K was a trustee sale. That is not an arms length transaction.

[Irish4evr]

Originally Posted by Buzz123

But you can't get from my house in the NW to the airport in under 40 - 45 minutes except on a very good day. Up until the late 80's you could get ANYWHERE in town in 15 minutes OR LESS because that's all the town we had.

That' a fact !!!!!!!!

[eventusstultorummagister]

Originally Posted by repru

He is dreaming. Only way to beat a rental limit is procedural...the HOA did not do it correctly.

In the interim the HOA will simply fine him and lien the place to hell and gone. I doubt they can or will foreclose unless he stops making his HOA payments. If they get annoyed enough they might go for an injunction.

So the HOA is, in effect, a private government placed above the laws of the land? I understand community governance but this sounds like a facade of true democracy, a private govenment that does not respect the rights and freedoms underlying the U.S. Constitution(?) I actually believe this guy (who by the way presently has 34 properties listed for rent) might be on to something...



NOTE: I make informed decisions based on available knowledge and probabilities of future events.

[repru]

Originally Posted by eventusstultorummagister

So the HOA is, in effect, a private government placed above the laws of the land? I understand community governance but this sounds like a facade of true democracy, a private govenment that does not respect the rights and freedoms underlying the U.S. Constitution(?) I actually believe this guy (who by the way presently has 34 properties listed for rent) might be on to something...



NOTE: I make informed decisions based on available knowledge and probabilities of future events.

It is called a contract. Between an owner and the other owners in a development. It is somewhat restricted by statute. But it is primarily a contract. If you don't like it don't buy the property with which it runs.

And you do give up some of the rights that normally run with the property.

[eventusstultorummagister]

Originally Posted by repru

It is called a contract. Between an owner and the other owners in a development. It is somewhat restricted by statute. But it is primarily a contract. If you don't like it don't buy the property with which it runs.

I like rent restrictions!!!
but...
I think it will be very tough to enforce them without creating additional administrative duties for the management company and eventually, if enough investors purchase properties in the complex, they may challenge the amendment.

My question is... Who will take responsibility for the added bookeeping required to track the units that are grandfathered against the units leased? How would management know that a unit has been rented if the owner does not submit a copy of the lease?

[repru]

Originally Posted by eventusstultorummagister

I like rent restrictions!!!
but...
I think it will be very tough to enforce them without creating additional administrative duties for the management company and eventually, if enough investors purchase properties in the complex, they may challenge the amendment.

My question is... Who will take responsibility for the added bookeeping required to track the units that are grandfathered against the units leased? How would management know that a unit has been rented if the owner does not submit a copy of the lease?

In general the neighbors turn renters in. The neighbors are almost always knowledgable about their building. The management can also watch CL and the MLS for violators.

Your investor was unusual. None I know would run the risk of getting caught between a tenant and the HOA. So growth of the investor side is unlikely.

And note they need not catch them all. If one slips through once in a while the HOA will survive. In fact many places have a hardship clause that would enable an owner to rent inspite of the prohibition under some circumstance.

[bledsoe3]

Event, give me the unit unit number and we can watch it play out. If they are not going to prevent others from renting out, I'll rent mine out and buy another place somewhere else.