How could I find out if I my neighborhood allows me to rent out my house?

Question

Hi all - I am considering moving out of my house and renting it out so I can buy another place. However, my house is in an upper class, somewhat exclusive area and I am worried that rentals may be prohibited. Are my worries justified, or are homeowners typically never restricted from renting their homes? If so, how could I find out if I am allowed to rent?

Answer 1

Just do it you'll know soon enough

Answer 2

When you bought the property you were informed if there was a Home Owner's Association, if so you signed on to the Codes, Covenants and Restrictions. Some H.O.A.'s limit the percentage of units or homes that may be rented.Check the CC&R's or contact the HOA management for clarification.



If there isn't an HOA it is highly unlikely that there would be any restrictions on renting your property.



Do a thorougfh credit check and contact the last two landlords for any prospective tenant. The second back will tell you the truth about the applicant. Be kind to your former neighbors and try to settle on a tenant who will respectful of their new neighbors, life will be easier for you if you are not receiving complaints from the neighbors about loud parties, family disputes or careless drovers.

Answer 3

Yogi hit the nail on the accurate. determining to purchase a house in simple terms for the sake of shopping for - or because known information is that possessing is extra useful than renting - isn't a good reason. With the hot state of the marketplace - you at the prompt are not gifting away a wide fairness earnings by utilizing waiting a jiffy - and it appears like you'd be happier in a useful locale with conveniences than residing in a marginal community in a low-end homestead. The marginal homestead will savor a lot less and delivers clients an same concerns once you're prepared to promote. The exception being a community that fairly does a one hundred eighty and turns into appropriate even as you own the homestead - a relative rarity. lease some thing delicate that permits you to stash some money away or eliminate some debt for the subsequent year or 2 - then bypass out and purchase some thing you recognize you'd be happy with.

Answer 4

If you are unsure whether or not your neighborhood has any covenants or restrictions and you can not find your original paperwork from your purchase, you can go to your county land information office (if it isn't close, look it up on the net and give them a call) and for a small fee you can get a fresh copy of those covenants and restrictions.



If there are still lots for sale in your neighborhood, check with that Realtor - they have to provide those to the buyers of those properties and can probably also give you a copy.



Good luck!

Answer 5

Look through the paperwork that you signed and received copies of when you purchased the house. If there is an owners association with restrictions you will have a copy of them or a reference to the neighborhood's CC&R's. Many upscale neighborhoods have an "owner occupied only" restriction.

Answer 6

Are you a member of a homeowners association? If so, check the covenents. If not, contact your city attorney to see if there are any laws in your community regarding rentals.

Answer 7

It's your house do as you please.In some upper crust areas you may have entered into such a covenant. Put a "for rent" sign in your front yard..I would be surprised if you get any reactions from your neighbors.

Answer 8

Check your homeowner association rules, if there is an association. Also check the covenants, conditions and restrictions (CC&Rs) attached to your property legal description.

Answer 9

There is no restriction to renting a property, unless you are part of a HOA (Home Owners Association). If you are, review your HOA rules and regulations to determine if you are allowed to rent the property.

Answer 10

Check in with your homeowners association. If thats not applicable then don't worry. It is your house, you can rent it out if you want.

Answer 11

i think u should consult your homeowners association for any prohibitions....

Answer 12

Ask your neighbors.