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Town houses are sometimes rented out but Im thinking of buying a town house and using one room for myself and renting the rest out, anybody have experience with that?
It's no different than renting rooms your house. Read the CCR because some HOAs don't allow it. However I have a few rentals in HOAs and none have that restriction. But it doesn't mean it's not there in some areas.
It's no different than renting rooms your house. Read the CCR because some HOAs don't allow it. However I have a few rentals in HOAs and none have that restriction. But it doesn't mean it's not there in some areas.
This. Our CC&Rs specifically disallows renting rooms. They also disallow renting out the entire property for less than a 12 month period so situations like Air BnB don't happen.
This. Our CC&Rs specifically disallows renting rooms. They also disallow renting out the entire property for less than a 12 month period so situations like Air BnB don't happen.
So you're saying they require a 12 month lease to be made whenever you rent out a home and when it expires the renter can either renew it for another 12 months or leave.
So you're saying they require a 12 month lease to be made whenever you rent out a home and when it expires the renter can either renew it for another 12 months or leave.
That poster was only stating what 'their' CC&R laws were. That does not necessarily pertain to every property. You need to check what the laws are for the property you will be purchasing.
OP, what you are talking about is getting a roommate. Screen carefully and have a good rental agreement.
If you are going to live in the house at the same time, I recommend a month to month agreement instead of a lease. That way if your new roommate turns out to be intolerable, you aren't stuck with him for a full year.
The difference between renting out a room and a roommate is that roommates are joint and severally liable and when you rent out a room, the tenant is only responsible for his share. It makes no difference if you have only one roommate when you also live in the house, but it does make a difference if you take in two or more roommates.
So you're saying they require a 12 month lease to be made whenever you rent out a home and when it expires the renter can either renew it for another 12 months or leave.
No. I said for no less than 12 months. Owners can offer longer leases if they choose or they can do 12 months and allow the tenant to renew or not. Up to the owner to decide. There's just a ban on renting for less than 12 months so people cannot rent out their home via Airbnb or Home Away or other services that offer short term rentals. There's also a ban on renting a room(s) while the owner also occupies the unit.
You need to check the CC&Rs for the place you're considering buying. It MAY have restrictions like my HOA does or it may not.
Well, I lived in one. Owner not occupied, but the owner's niece lived there and she acted as the landlord.
We just had month-to-month leases.
This was in an area of California that was particularly hard hit by the economic downturn.
I have no idea if they were following HOA guidelines, but I noticed other people did the same thing - and some were owner occupied & the roommate thing.
So you're saying they require a 12 month lease to be made whenever you rent out a home and when it expires the renter can either renew it for another 12 months or leave.
Just depends on the CCRs for that complex. There is no hard set rule on HOA rentals.
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