Definition
HOA rules limiting your ability to rent your unit to tenants. Common restrictions include minimum lease length or percentage of units rented.
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Rental restrictions vary from unrestricted rental to complete prohibition. Common restrictions include minimum lease length (6-12 months), occupancy limits, or caps on percentage of units rented. Rental restrictions significantly impact investment property value and appeal.
Pro Tip
If considering rental income, thoroughly review rental restrictions before buying.
Example
An HOA restricts rentals to 30% of units, requires 12-month leases, and requires owner approval of tenants