|Re: Do you wish you had a rental policy?||<– Date –> <– Thread –>|
|From: Christine Johnson (manzjohnsonnetzero.net)|
|Date: Wed, 25 Jan 2012 19:20:55 -0800 (PST)|
Thank you Diane (of JP Cohousing in Boston) for posting your very sane policy on renting.
In Arizona and in many other states, limitations on leasing use must be precisely defined in the CC&Rs. The reasoning is the rental restrictions affect the use of the land, run with the property regardless of the ownership, and must be recorded. Prospective buyers are both noticed by the representing agent and provided a copy of the recorded CC&Rs and so are presumably aware of the limitations on the use. It's only fair. Imagine if you were an investor and found out only after closing that you could not lease the property.
Before the big housing crash, a good number of Associations throughout the US have attempted to, and some have succeeded in amending their CC&Rs to restrict or prohibit rentals. Owners have in some instances challenged the Association Boards under federal and state fair housing statutes. In AZ it's all quiet now. With the huge volume of foreclosures and empty houses, there's little motivation to pursue any action that would lead to more unoccupied property.
Christine Johnson Stone Curves Cohousing Tucson, AZ ____________________________________________________________ 53 Year Old Mom Looks 33 The Stunning Results of Her Wrinkle Trick Has Botox Doctors Worried http://thirdpartyoffers.netzero.net/TGL3241/4f20c6864b2766e9418st05duc
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