Travers Mountain Rental Restrictions?

[Scott Baird]

I am looking to buy a decent sized townhouse in the Lehi area with the plan to live in it for a few years and then hold on to it as a rental if the numbers make sense when I am ready to move out. I have found a few in the Traverse Mountain area that I like, but it looks like their HOA caps rentals at 10%.

I'm waiting to see a purchase agreement with CCRs to see how specific units that I like are affected, but wondered, does anyone here have experience with this? My agent and several other people in the area told me that HOA Rental Restrictions went out of style in the 80's and 90's and Traverse Mountain was formed in the 2000's, so I was surprised to see this. Does anyone know if these restrictions are enforced or how strictly?

I liked having the ability to keep the property as a potential rental in the future, but given that it's pretty difficult to land a cash-flowing property in Lehi anyway, I'm wondering if not being able to rent it out in a few years would really be much of a problem (i.e. it might be better to sell and roll any appreciation into a rental in a cheaper market anyway).  

[Kody Thompson]

Im just west of Traverse by Thanksgiving point golf course, our HOA caps rentals at 10% as well. They also charge a rental fee of $800 a year to those who choose to rent their homes out. Not sure who on the HOA Agreed to that but they do enforce it.

Best of luck to you!