Does a Home Owners Association have the legal right to limit/restrict the of renters in their condomium complex by amending the by laws?
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Does a Home Owners Association have the legal right to limit/restrict the of renters in their condomium complex by amending the by laws?
There is no limit at this time. We are concerned that if the percentage exceeds 40, it will have a detrimental effect on a perspective buyers ability to obtain a mortgage. About 20 of our units of are currently being rented out. The bylaws currently allow only long term lease agreements of at least one year and no businesses.
Asked on August 6, 2018 under Real Estate Law, South Carolina
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 5 years ago | Contributor
Yes, an HOA has the power (so long as it follows the proper procedures for doing so) to amend its bylaws to limit the number of renters or length of time any given renter may rent a unit or how many months or years a unit owner may rent out their space, etc. As practical matter, for any given unit which is already rented out, the restriction would only go into effect once the current lease expires or is terminated--you can't require people to violate contracts (leases are contracts) entered into prior to the rules being changed.
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