HOA Disclosure
$24.00
Owners will forget to tell you about HOA requirements and restrictions regarding leasing in their managed communities. This document has been created in 1996 due to the ever increasing dangers we faced leasing in aggressive HOA-managed communities. Owners forget to tell managers about special signage requirements, special forms the tenant needs to sign, special permits needed to lease in the community and these issues can get managers in all sorts of fistfights. HOA’s are booting tires when dues are not paid, dismantling entry keys to pools and evicting tenants over continuous rule violations and managers need to protect themselves from these HOA (or owner caused) hazards. Managers are getting sued by tenants over loss of right to quiet enjoyment, wrongful dispossessory, harassment and constructive eviction when the HOA’s begins to bare down on them. Managers need a document to protect themselves when owners forget to disclose the presence of an aggressive HOA and the requirements of tenant rules in the community. (You also need to have the tenant sign a document preventing them from suing you if the HOA does them wrong. See our Tenant CYA section for a list of documents to protect yourself in these situations). This is one of the most toxic and litigious battle ground of management exposure in today’s rental market and owners need to notify (and indemnify) managers for the fallout from these issues. HOA’s have hugh power over the owner, and ultimately you, regarding what happens in their communities and they love to wield it without mercy. Don’t get caught up in the fines, assessments and debates without having this protection from the owner.
