Re: rental policy in these economic times
From: drmaryanngroups (drmaryanngroupsmac.com)
Date: Fri, 20 Jan 2012 11:21:15 -0800 (PST)
At Manzanita Village in Prescott, AZ we do not have a rental policy as you 
describe. In fact, some of our homes were built to include rentals (ie two 
units, one for the owner and a second to rent). Over time some of the original 
rentals have been sold and other owner-occupied units have become rentals. Our 
larger problem has been folks buying units as "vacation" property and thus not 
being full-time members of the community. Sometime those units are rented 
during the "off-season." Our current marketing committee discourages folks who 
don't want to be active members of the community from purchasing units.

Some of our renters have become fairly long-time members and some of the folks 
renting the vacation properties have gone on to buy units and join the 
community. Some of our rental units have been used by folks who while they 
build their permanent homes. 

That said, some of our renters have been active members of the community while 
others have been invisible. 

I think overall the experience has been positive for the life of the community.

Mary Ann
Manzanita Village where we're enjoying a balmy winter day full of sunlight and 
a bright blue sky

On Jan 20, 2012, at 5:17 AM, Brian Tremback wrote:

> 
> Lisa Lackey said: "I recently learned that most cohousings don't have a
> rental policy.  So, my question is:  if you are in a cohousing without a
> rental policy, do you regret it?  Has anyone run into problems not having a
> rental policy?"
> 
> At Burlington Cohousing we recently adopted a rental policy limiting
> rentals to 7 out of 32 units. Because of our location - near the University
> of Vermont and the largest hospital in the state - we were concerned about
> our community becoming rental investment property. Our Declaration of
> Condominium already included language that allowed us to limit rentals on
> the basis of meeting the requirements of lenders regarding the percentage
> of rentals, so we were able to adopt the policy as one of our 'Rules and
> Regulations'. The owners of the 6 rented units at the time of adoption,
> were exempted from the policy until ownership changes or it once again
> becomes owner-occupied so, at least for a while, there will be units with
> longer-term rentals. This does not guarantee that the owners of those
> rental units will renew the lease - the absentee landlord may have other
> priorities.
> 
> In our discussions leading up to approval of the policy, there were also
> concerns about inflexibility. The recognition that, if there is agreement,
> the rental cap could be raised, satisfied those with concerns. So, I guess
> my question back to you is, if people in your community regret having a
> policy, why not change it?
> 
> 
> Brian Tremback
> Burlington Cohousing
> Vermont
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> 
> 

--
Some people hear voices. Some see invisible people. Others have no imagination 
whatsoever.

Mary Ann Clark                                                  drmaryann49 
[at] mac.com
Check out DrMaryAnn's Academy at http://drmaryann.wordpress.com/


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