Websites like Airbnb and HomeAway have made it incredibly easy for homeowners to rent out their entire homes or portions of it to vacationers or short-term renters. These websites help people to find more comfortable accommodations than your average hotel can offer at a fraction of the price and also provide an income, sometimes a substantial one, for the owners of these homes.
These short-term rentals, although convenient for some, violate the CC&R’s and governing documents of associations all over the United States and raise practical questions about safety, parking and the unfair use of community amenities.
This has led states like New York, Louisiana and Hawaii, to name a few, to consider legislative regulations to help interpret, for homeowners associations, how short-term rentals fit into their communities, if at all.
The discussions surrounding short-term rentals in homeowners associations isn’t going to end anytime soon. How can your Board prepare, in advance, for how to handle short-term rentals in your Association? There are several questions Board Members can ask to get the short-term rental conversation started:
- Does our Association have a policy regarding short-term rentals?
- If so, what does it say? Does it take into consideration local and state laws?
- If not, should we adopt a policy regarding short-term rentals? Is it really necessary?
HOAMCO will discuss the topic of short-term rentals in greater detail in our Board Member education series for 2018 and we invite you to join us.
For a list of legislative action concerning short-term rentals being contemplated throughout the United States, or for more information about how you can attend one of our Board Member seminars, please visit our website at www.hoamco.com.
For an updated list of States discussing this topic in their current sessions: http://www.cqstatetrack.com/texis/statetrack/insession/viewrpt/main.html?event=5670724a1fbb
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