HOA lease duration requirement vs. my typical MTM policy
One of my rentals is in an HOA. It's a SFH. Let me say that although I was under contract to buy another SFH that was a short sale at a really good price, I decided against it because of the HOA risks, suffice it to say that I won't buy in an HOA again.
But for the time being the HOA requires a minimum of a six month lease. State law allows HOA's here to set caps and out right ban any rental activity, so no legal way to beat them if it becomes an issue, but...
I typically rent to tenants month to month, to protect myself, so I can easily get rid of them if they are bad. Now, the house in the HOA is a half million dollar neighborhood, and the guy renting it from me makes the same six figure salary I do. I don't anticipate any problems so maybe it's not so bad to abide by the HOA regulations for now and do a 6 month lease minimum?
The HOA is pretty lax, as I've had issues getting them to enforce anything even though my attorney told me I had legal standing in my dispute, however; maybe the better business decision is to comply with the regulations (they don't ask for a copy of the lease form what I recall they just ask that the lease not be less than 6 months and that they get a copy of the rules, etc.) until I can fatten this house up enough to 10-31 exchange into an apartment complex in 2-3 years?