Memphis lead in gated community

[Matthew Taylor]

I was contacted by a seller about a property in a gated community in Cordova and more than likely has an HOA. Any recommendations on how to find out if the HOA allows rental properties? There appear to be a few houses with owner addresses elsewhere.

What about experience with rental properties in a gated community?

Thanks, Matthew

[Account Closed]

My experience has been that gated communities typically have grandfather clauses that limit the number of rentals allowed. I've not had much success in getting into a condo type of arrangement because the rules were so restrictive. Also I don't like the fact that the association can do special assessments that will impact my cash flow. Let us know how you make out on the deal.