DEED RESTRICTIONS
I live in a deed restricted community and have received a copy of the covenants and restrictions. Recently, the house next door has come on the market. I mentioned to the homeowners president that I would consider buying it as a rental property. He said that the deed restrictions prevent it. I am assuming he means that all property is to be only owner occupied. I have carefully read through the deed restrictions and find no mention of such restrictions. The only mention that he could be referring to is that each home is for single family use only and restricted to residential use only. My question is: Do I just A)ignore his comment B) get into a heated debate on the definition/interpretation of the deed restrictions C) Hire an attorney to review the deed restrictions and draft a statement that renting my home is permissable?- obviously the last is the most costly but, to me the most satisfying! Thanks for input
I would get an attorney to review it then ask the homeowners association to specifically point out what they are talking about. If they cant I would go ahead with the deal, the only thing is that I would not want to get into a legal battle even if I am right. It could cost a lot to fight. I avoid buying places that have a HOA, they are nothing but a pain in the you know what.
In CA there are several different documents in which that resriction might be place deed restriction (I would say strongest), CC&Rs, and rules and regs (weakest).
If you buy it the HOA might bust you so you could run the risk or get a definitive answer from the attorney. The hardest part is finding all the documents.
thanks for feedback!
I would call the president and say you could not find anywhere that you could not rent out property. Have them tell you where it is spelled out.