Cohousing-L Mailing List: Re: Do you wish you had a rental policy?

[Christine Johnson (manzjohnson]

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




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