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LANDLORDS, TENANTS AND HOAsLANDLORDS, TENANTS AND HOAs

 

The relationship between landlords and tenants can get complicated.  But when you add a homeowner’s association (HOA) into the mix as well, it gets even more complex.

The first thing to know about an HOA is that it is a legal body created to maintain common areas in a neighborhood/housing development and to maintain the quality and value of properties involved in the HOA.

This organization has direct authority over property owners, but not over renters.  If, however, a tenant breaks association rules, it does have the right to call the proper authorities to take action against that individual.

If you are a landlord who belongs to an HOA, you are responsible for ensuring that tenants adhere to association rules.  The best way to prevent rule violations is to provide written copies of all HOA policies and rules and to make sure your lease agreement is also in writing and adheres to the HOA’s governing documents.

Should a tenant in a home, condominium or multi-family housing unit violate a policy or rule, you will need to remedy the situation using resources available to you in your lease contract.  If the violation results in fines, you must pay the HOA and then be reimbursed by the tenant.  If you fail to correct the problem, then the HOA can take legal action against you.

As the saying goes, the devil is in the details.  And the more of them you have to deal with, the more difficult your job as a landlord.  The experts at Herman Boswell can help.

Our team of real estate professionals can offer you the management expertise you need to deal with the often time-consuming issues that HOA membership can entail for you and your tenants.  For the peace of mind you deserve, contact us today!

2018-11-27T09:27:20+00:00