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I live in a condo complex with its own POA that exists within

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a guard gated community that...
I live in a condo complex with its own POA that exists within a guard gated community that also has an over arching POA - Texas,Lake Conroe. There has been no previous restrictions to rentals. I recently purchased a condo and invested quite a bit in improvement and lovely furnishings and supplies. I list it onVRBO and AirBnb. Some other owners who are not in my condo complex but inside the lake community have received notice from the larger POA to shut down their rentals because it constitutes commercial business. I found a citing in Colorado where rentals were classified in the courts as still be residential use and not commercial. I am concerned that I am going to lose quite a bit of my investment as the her-to-fore never a problem has suddenly become one with in over-zealous new board member. My particular condo unit does not restrict rentals. I will lose on 2 fronts, my improvements and furnishings expense just since Sept (I am not in the black yet on the investment ) AND a flood of units and townhomes on the market as the HOA crashes our property values. it is a resort community. My guests are mult generational... somewhere to bring the kids, parents, grandkids and fido to relax on the lake. My neighbors are supportive and I screen my guests. What are my property owner rights? There is not specific mention in my condo or the neighborhood CCRs about rentals at all...just the overarching... get the TupperWare lady ' commercial use.
Submitted: 1 year ago.Category: Real Estate Law
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Answered in 6 hours by:
4/8/2016
Real Estate Lawyer: Phillips Esq., Attorney-at-Law replied 1 year ago
Phillips Esq.
Phillips Esq., Attorney-at-Law
Category: Real Estate Law
Satisfied Customers: 19,845
Experience: B.A.; M.B.A.; J.D.
Verified
If there are no restrictions on rentals on your CCRs, you have a right to rent the place out. If you receive a notice to discontinue renting the property, you would have to go to Court to get a declaration that you have a right to rent your property because there is no restriction on renting the property when you purchased the condo. That to allow the POA to stop you from renting your property would be a violation of the CCRs and would cause significant damages to you--significance loss of your investment on the property. That you carefully reviewed the CCRS before purchasing and therefore decided to purchase the condo in the community based on that representation. That in the interest of justice, the Court must not allow the POA to prevail in the case-- to prevent you from renting your property. Renting a condo DOES NOT IN NO SHAPE OR FORM CONVERT THE CONDO FROM RESIDENTIAL TO COMMERCIAL PROPERTY. You can use the following sites to find local Attorneys who handle condo and POA issues to assist you with the case: Lawyers.com Justia.com Findlaw.com Consumeradvocates.org Kindly give a positive rating to my post so that I can receive credit for answering your question—so that part of the deposit that you already paid to the site can be transferred to me. You are not charged extra for doing this. Thank you for your cooperation.
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Phillips Esq.
Phillips Esq.
Phillips Esq., Attorney-at-Law
Category: Real Estate Law
Satisfied Customers: 19,845
19,845 Satisfied Customers
Experience: B.A.; M.B.A.; J.D.

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