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Old 01-24-2011, 09:54 PM
 
2 posts, read 3,332 times
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i'm looking to buy a townhouse in hope valley farms. i have done quite a lot of research in the neighborhood and feel really like it. i want to find a roomate to share the townhome with me so that i don't need to pay the mortgage all that much myself. however, i read the regulations of hoa and found that seemingly rental is restricted. is there anyone living in this area and is currently a tenant? do you see any problem of doing this? i asked my agent, and she said as long as you don't put a big sign in front of your porch saying, it would be fine. i'm still a little concerned, and want to hear thoughts from people living there. thanks!
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Old 01-24-2011, 10:38 PM
 
Location: Durham
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I'm not sure I understand your question. Are you concerned about the process of gaining a tenant in this area?
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Old 01-24-2011, 11:10 PM
 
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Thanks for replying. I'm concerned that the HOA will fine me or anything if I actually rent out my house. I checked in a few rent website and didn't find any ads about the neighborhoods... I'm not sure if there's any tenant living there or everyone is just homeowner.
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Old 01-25-2011, 07:02 AM
 
Location: Knightdale
374 posts, read 993,994 times
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I think as long as YOU live in the house with the roommate, the HOA won't mind. My best guess is that they are trying to guard the neighborhood from "absentee landlords" that rent out properties but don't keep them up.

Another option would be to just call up the HOA and ask. At worst they'll say "no", and you won't have any doubts about what is allowed and what isn't.
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Old 01-25-2011, 08:44 AM
 
Location: Durham
840 posts, read 3,005,511 times
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Quote:
Originally Posted by Picaflora View Post
I think as long as YOU live in the house with the roommate, the HOA won't mind. My best guess is that they are trying to guard the neighborhood from "absentee landlords" that rent out properties but don't keep them up.

Another option would be to just call up the HOA and ask. At worst they'll say "no", and you won't have any doubts about what is allowed and what isn't.
Yes, this is what my first thought was, but due to the phrasing, I wasn't quite sure.
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Old 01-25-2011, 08:47 AM
 
Location: Downtown Durham, NC
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I have a friend that lives in Hope Valley (off of Roxboro and MLK) and he rents a room to a room-mate with no problems.
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Old 01-25-2011, 09:15 AM
 
Location: Raleigh, NC
11,791 posts, read 27,440,956 times
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Quote:
Originally Posted by Picaflora View Post
I think as long as YOU live in the house with the roommate, the HOA won't mind. My best guess is that they are trying to guard the neighborhood from "absentee landlords" that rent out properties but don't keep them up.

Another option would be to just call up the HOA and ask. At worst they'll say "no", and you won't have any doubts about what is allowed and what isn't.
I know others that rent in Hope Valley Farms. I agree with Picaflora!

"For Rent" SIGNS tend to make buyers nervous and therefore affects property values so the HOA may very well have a rule against the sign.

Vicki
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