Condo Rental Restrictions. Do you care?

Question

So I've been looking at a couple properties but they are in condo associations that only "allow" a certain number of units to be rentals.

How much do they actually care? what can they do if you rent yours out even if they are already at max rental allowance?

Has anyone tried this?

David Zheng · Answer

Much appreciate for the info @Todd Plambeck!!

I will definitely go directly to the HOA and see if that is a possibility

Todd Plambeck · Answer

They can fine you, get a judgement and a lien against you then foreclose on the lien. Same as if you don't pay the COA dues. Obviously that is the most drastic scenario but they certainly can do that. You should check with the COA, see what the rental limit is, and see if it's possible to get a waiver if it is over the threshold.

David Zheng · Answer

I hate that...The two condos in question are small units that would never be enough for even a small family or good enough for most single young professionals especially since it's located in an area with 90% college students...

I guess i'll keep looking..

Thomas S. · Answer

The HOA can force you to remove your tenant.

They have total control over their "tenants". The tenants being the condo owners.

David Zheng · Answer

They can foreclose on a property that they don't have the title to or don't technically own?

Todd Plambeck · Answer

Fine you, foreclose on you depending on the CC&R's of the association.

Condo Rental Restrictions. Do you care?

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