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Kuester Management Group Highlights Considerations When Developing HOA Rental Policies
Kuester Management Group shares tips when it comes to creating and implementing rental restrictions or limitations.
By: Kuester Management Group
"It is a good idea to talk to homeowners and hear their concerns, questions, and feedback when it comes to rental homes," says Bryan Kuester, President of Kuester Management Group. "This can help the board come to a more mutually agreeable solution that fits the needs of the community and protects property value. Renters can be a wonderful addition when the right expectations are put in place."
Two common concerns regarding rentals are the frequent turnover of residents, and the potential for rule violations, says Kuester. The HOA may want to consider putting guidelines in place when it comes to the duration of rental agreements. For instance, leases may need to be at least six or 12 months to cut down on visitors just looking to stay for a long weekend or a few weeks.
Another option is to set rental caps. This limits the percentage of homes in the HOA that can be used as rentals. That means that more homes are owned by permanent residents who are invested in the community and its well-being. The board may also require a homeowner to live there for a certain number of years before they can rent their property to discourage investors from buying homes simply to turn around and rent them out.
"The board may also want to set clear guidelines when it comes to the owner's responsibilities, such as ensuring they provide renters with a copy of the HOA rules," says Kuester. "Ultimately, the owner is usually held accountable for any violations as well as paying dues."
Kuester Management Group works with HOAs to set effective policies and enforce rules when it comes to rentals to help their communities thrive. Learn more about the company and its services by visiting www.kuester.com.
Kuester Management Group, a division of Kuester Companies, works to protect property values and enhance the quality of life in each of its managed communities. Providing a full range of association management services, Kuester Management Group has worked to foster strong, resilient, and unified communities across North and South Carolina. The company is proud to offer on-site property managers, all zealous for building strong communities meant to stand the test of time.
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