How to void a rental restriction in a Condo Association

How to void a rental restriction in a Condo Association

Atlanta, GA · Member since 2016 · 33 posts · 7 votes

Hi folks,

I don't know if there's any way to approach this and solve it: 

- Condo purchased. I was living there the 1st year but I'm no longer there. 

- HOA states a 2-year non-lease term. As of now, 9 months to end it up.

- Best scenario would be to void this restriction and lease the unit now (instead of waiting for months).

Any idea? 

Thanks, 

EDI

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  • Rental Property Investor · Boca Raton, FL · Member since 2017 · 329 posts · 237 votes
    9y

    Hello @Edi C. :

    Just to clarify, the non-lease restriction is in the HOA Rules and Regs, correct? Or was it in the deed?

    Bob

  • Kim Meredith HamptonBusiness Member
    Real Estate Broker · St Petersburg · Member since 2014 · 2k+ posts · 2k+ votes
    9y

    @Edi C. if I understand what you are saying, this means that you can't rent your property for the first two years, must be owner occupied. After nine months, you can them lease it out. I would ask find out if your tenant has to be approved, if there a fee and how long is there approval process 

  • Atlanta, GA · Member since 2016 · 33 posts · 7 votes
    9y

    Now what I'm doing is waiting, following the rules. But I posted it to see if there were any experiences on this.

    @Kim Meredith Hampton Nothing states Owner Occupancy for HOA. The only Owner Occupancy needed was the 1st year for the lender (which is okay). Yes, tenant has to be approved and it takes about 3 weeks - or a few days or a week with a rush application -.

    @Bob Razler Yes, it's in HOA rules and not in the Deed.

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