Updated almost 5 years ago on . Most recent reply
HOA is voting on a rental cap and I want to grandfather in
Hi all, weird situation but I wanted to be proactive and get your input. I have lived in my primary home for 9 years now but have been looking to upgrade. My HOA is trying to pass a bunch of measures currently and one they are pushing for 2021 is to introduce a 10% rent cap in the neighborhood. Meaning with 150 houses only 15 can be rented. Currently they are at 10%. Those people currently renting would be grandfathered in. They claim they are doing this to prevent companies from buying up the houses to rent and bringing down neighborhood valuations. I would like to retain my right to rent my own property though. Anybody ever been in this situation and had success? I thought about transferring my primary home to an LLC and leasing it to myself to try to grandfather in our status. However not sure if that's more hassle than its worth in the long run. Thanks