HOA Rental Restrictions

[Bruce L.]

How would an investor find out if a prospective property has any rental restrictions? Would you simply call the HOA and ask?

Also, what happens after an investor purchases a property with rental restrictions? Would the investor pretty much be force to either sell the property or just sit on it?

[Steve Babiak]

The HOA documents might be recorded, so you might check the county records to see if you can get a copy. What's recorded is often the original docs, and things may have changed / evolved from what is recorded. you could put into your agreement to purchase that it will be contingent on approval of the association documents by the purchaser; a set of documents normally has to be given to a purchaser so that the rules are known.