Many things shape the area that you live and or farm.  Without a doubt the biggest can be the HOA that governs your neighborhood.  Recently I just encountered another HOA problem that is making life for some of the owners a terrible experience. 

I have just heard of an HOA limiting the number of renters that can be in a neighborhood.  The board of this particular HOA is enforcing rules that have been on the books but never enforced concerning renting the property to non-family members.  With the changing markets many have been forced to rent their property since it has been unable to sell.  Now some of these owners are being told by the HOA that they cannot rent their property because the limitation on the number of tenants allowed in the neighborhood.

What a mess ... but it brings a valid point.  What are your clients intentions when they purchase a home that is governed by an HOA?  Will those rules impede your client from doing what they wish (or must do) regarding their property?

Know the rules about your neighborhood ... be a specialist www.CNSDesignation.com

 

5 Comments on Learn About Your Neighborhood

Allen,   Sounds like someone is in for a rude awakening !  Did they not read the assoc docs ?

12/29/2007 04:08 PM by Bill Gillhespy Fort Myers Beach Realtor (Century 21 Tripower Realty)

Associations are designed to and charged with protecting everyone that owns or resides in the neighborhhod.  If people want change, then they have to get elected to the associations board and get things they feel are important done.  It's a very democratic system.  If owners aren't aware of the restrictions, then they have to blame themselves. 

Here's to a GREAT '08!

Be of service! The rewards will come!

www.mattcrow.com

 

12/29/2007 04:13 PM by Matt Crow - www.mattcrow.com 630-728-6051 (Huntley Realty)

Bill - I do not know if the buyer did or didn't ... but with 48 hours to review docs in many areas it is not enough ... I am an advocate of agents being responsible for asking questions and getting answers to avoid potential problems ... this is a unique situation since the rules were never enforced in the past.

12/29/2007 04:15 PM by Allen Wright CNS, AHS, REPS (RealtyU)

I have a promising prospect who is already envisioning a brick fence around "her" house.  I have printed the bylaws to give to her at our next visit.  I would hate for her to be disappointed with her purchase and in me as her Realtor for life.

12/29/2007 07:06 PM by Latonia Parks (Keller Williams Realty)

Latonia - I think a more appropriate task would be to read the bylaws yourself ... I hate to say it but buyers will be liars when it comes to disclosure ... they may say 1) you never gave them the bylaws 2) that you said the fence would be OK

Better to be careful ... and if this is an area you sell often than you will have the information for next time.

12/29/2007 07:31 PM by Allen Wright CNS, AHS, REPS (RealtyU)

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Real Estate Trainer: Allen Wright CNS, AHS, REPS (RealtyU)
Allen Wright CNS, AHS, REPS
Aliso Viejo, CA
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RealtyU

Office Phone: (949) 349-9394 Ext.: 115
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Thoughts and Commentary on Education, Training, Economics, Professionalism, Productivity and other things real estate oriented. www.RealtyU.com, www.CreateAPlan.com

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