Are you in charge of helping run a homeowners association? If so, one issue that almost every HOA community has faced in recent years involves HOA rentals.
In a perfect world, most HOA members would probably prefer for there not to be any rentals in an HOA community. If there are too many rentals in this kind of community, it can have an impact on property values and the general quality of life.
But at the same time, there has been a lot of debate over whether or not HOAs should be able to impose rental restrictions in Charleston, SC, and other parts of the country. It's muddied the waters so to speak when it comes to HOAs trying to put rental limitations in place.
Here is what you need to know about rentals in an HOA community in Charleston, SC.
Are Rentals in an HOA Community Allowed?
Every individual HOA community takes a slightly different approach to HOA rentals. Some are more than open to allowing rentals in an HOA community, while others go above and beyond to try to make life difficult for those homeowners in an HOA community who choose to rent out their houses.
The laws regarding HOA rentals are always changing. But generally speaking, most individual states have HOA laws in place that prevent HOAs from imposing outright bans on HOA rentals.
Can an HOA Community Impose Rental Restrictions?
While you might not be able to get away with putting rental restrictions on the books that outlaw rentals in an HOA community altogether, you might be able to take some control over the rental limitations you can impose.
For example, some HOA communities will put a cap on how many HOA rentals their communities can have at one time. Others will ask homeowners to abide by minimum lease agreements, especially when they're making a push to ban short-term rentals.
Should Your HOA Community Create Rental Limitations?
Your homeowners' association will have to decide how you'd like to handle rentals in an HOA community. You should take a good, long look at how things are playing out now to see if you even need to consider rental limitations. You should also think about which rental restrictions you might want to impose if you're going to go in this direction.
Additionally, you should work closely with a property management company that can help you make sense of HOA rental rules and regulations. It'll prevent you from trying to impose any rental restrictions that may break laws and get your HOA into trouble.
Let Us Help Your HOA Community
Is your homeowners association trying to decide how to deal with rentals in an HOA community? You need a Charleston association management company in your corner.
Adams Properties can help your HOA with all your HOA management needs. You won't have to stress out over complex issues like HOA rentals anymore.
Contact us now if your HOA is in need of assistance and could benefit from our management services.