When I helped rewrite the CCRs for our small 10 unit HOA several years ago, two different attorneys recommended we do not include any restrictions on rentals. Restrictions were viewed as something that would decrease property values because they reduce the rights of ownership. In some situations a unit is rented intermittently while the owner is on sabbatical or during an inter- generational transfer of ownership (very common in CA). In desirable areas of California the number of all-cash purchases exceeds 30%, making the mortgage issue moot.
Statistics: Posted by Ranunculus — Mon Jul 01, 2024 8:50 am — Replies 54 — Views 3090