General Landlording & Rental Properties
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated almost 14 years ago,
HOAs in SF Home Communities, good/bad for rental props?
I'm looking at a SF home in an HOA community and reading over the CRs now. Pretty standard stuff, no livestock, antennas, signs, tractor trailers, etc. I personally would never live in an HOA community but am buying a property as a long term rental.
The fee is about $350/yr, capped at a 10% increase per year max. Development is about 17 years old, and indications are it is pretty well run. 300+ units, community park and pool, and some common landscaped areas. It would seem to generally be a plus to families looking to rent.
But I wonder about my potential problems increasing if the tenants fail to keep the HOA happy. Looks like the CR says if the yard is not kept up, they can contract for it an bill me.
Thoughts? Experiences? Is it a quagmire or a benefit for rental properties? I plan on paying a management company to manage the property as I will be living some 1300 miles away. I plan on talking to the PM company about this, as well as trying to contact the HOA. There are other rentals in the community (so rentals are not disallowed) and it seems to be pretty well kept. Questions to ask the HOA?
Any insights appreciated....
JH