HOA pushing for a sale
Hi,
We bought two investment properties in one a planned neighborhood (main HOA), but under two different sub-HOAs. One in 2019 & another in 2020. It has been a great area with good tenants. And we suddenly received a notice from the main HOA that we have multiple properties which is a violation. We have been paying dues for both the HOAs from the beginning and requested amenities (managed by main HOA) access for the tenants in both the properties.
I understand that we made a mistake by not checking the covenants of the main HOA, but mainly went with the sub-HOA rules which don't mention anything around multiple properties for lease.
Property A's lease expires end of this month and I have a tenant lined up to start a new lease term from 2/1 and Property B's lease expires in April and the current tenant is a long term one and would like to renew for two years.
My preference to at least keep both of them through next January and potentially sell or transfer Property B to my son who is graduating in May and have a full time offer in hand.
I am hoping that experts here can provide some guidance on ways to handle this.
Thank you in advance for any suggestions to work through this issue.