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Updated over 2 years ago on . Most recent reply
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Risks of not abiding by HOA for STRs
BiggerPockets fam,
AirDNA is saying I can generate $90k in revenue per year for my 4 bd / 3 bth (+bonus office room) 2600 sq ft. house w/ in-deck hot tub in backyard. The only problem is my HOA does not allow leases for less than 30 days. I cannot locate the consequences of not abiding by these rules in the CCRs and, for obvious reasons, cannot ask them directly.
Does anyone else have experience or personal anecdotes of trying to manage an STR in an HOA that disallows? I feel like it is worth the risk if the worst that can happen is having to pay a fine and convert to a longer term lease but maybe that's just the greed talking :)
Thanks for your time!
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- Olympia, WA
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I really don't understand why some people are so keen to break laws and rules.
All you would really do is get caught quickly and piss off your neighbors. Then you would convert to a LTR and then said neighbors make life difficult for your tenants. They break the lease and then you have to start all over and the cycle continues.
Don't be a bad neighbor and bad person. I am only annoyed due to the sheer number of people who want to break the law and HOA rules. People post expecting us to know the best way to cheat. We don't cheat, break the law or HOA rules.