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Archive for January, 2012

Q & A Is it possible for a HOA board to change the minimum rental period owners are allowed to rent out for?

Posted on: January 23rd, 2012 by admin

Q: We bought our Florida property several years ago and weekly renting is allowed.

Many owners are now retiring and would like to move the minimum period to perhaps a month, and perhaps eventually eliminate short term renting altogether. They were happy to use the facility to help buy their property but now want to prevent others!

Financially this would impact on many owners.

If a change did occur would it only effect new buyers/investors due to the grandfathering rights?

 

A:¬†Without a review of the proposed amendment and the terms of your Declaration and the pertinent documents of your community is impossible to answer the question with whole certainty. However, there are many cases wherein owners are grandfathered in to prior iterations of the declaration’s rules. Unfortunately, this grandfathering is usually on a per issue basis. For example, if your community allowed rental of units and then decided to not allow any rentals whatsoever, you and your tenants would likely be grandfathered in for the term of your leasehold and any extensions of the same.

Your situation sounds like a seasonal rental situation, wherein, each new visitor creates a new rental agreement. It is less likely that the grandfather scenario that would be of most benefit to you will occur in this situation due to the novel lease for each new renter.

On to what you can do. Consider having a skilled attorney in your area review the rules and covenants of the Association to determine the exact requirements to push through this type of amendment. If a quorum and majority vote is required, a good bet, then the community as a whole should be able to prevent its passage if it effects as many owners as you believe it does.