L/O Vs. HOA
Does anyone out there have experience with trying to either buy a home with a L/O, or sell a home to a tenant-buyer in a subdivision with an active HOA that has a "no rent" clause?
If so, what is your experience? Do they enforce them? Is there a way around them?
Obviously, I understand that it depends on the wording of the clause, but I was just interested in any insight and/or experience anyone out there may have had with this situation?
Thanks.
I have never encountered a situation where a HOA had a "no rent" provision in its regs. What I have seen are provisions where if the owner has in hand an offer to rent or sell to somebody, they must give the HOA a right of first refusal.
I have heard that in some resort areas the HOAs and even the local community ordinances (Key West comes to mind) may restrict use for short term rentals. Most often, if there are rental use restrictions, they permit rentals of six months or longer but prohibit weekly or monthly rentals.