Data from the US Department of Housing and Urban Development explains there are more than 43 million homes used as rentals across the country (The Zebra). But what about rentals in an HOA community? Are owners allowed to rent them, and if so, how can HOA management services in McDonough, Georgia help?
From tenant screening to tenant compliance and everything in between, an association management company helps landlords rent their properties while complying with local HOA bylaws. To learn more about this process, we've created an article that answers all your questions, starting with the basics about HOA rules and regulations regarding rentals.
Are Rentals Allowed in HOAs?
Before landlords rent their homes, it's important to understand if their HOA allows it. These rules are outlined in their bylaws, and not all HOAs allow rentals. Some don't allow short-term rentals, such as properties used for Airbnb purposes, so landlords should always check first to avoid penalties.
One of the issues with short-term rentals is that tenants might not be overly concerned with following local rules and regulations, especially if they're only in the rental for a week. This can cause issues for the landlord and the entire community.
Some HOAs have rental caps. Rental caps mean that a community can only have a certain percentage of rentals running concurrently, something landlords need to familiarize themselves with.
There are other gray areas with HOA rentals in communities with restrictions. For example, family members and children may not count as renters.
By confirming with an HOA board of trustees and reviewing the bylaws ahead of time, landlords can rent their properties with each. They can also hire qualified association managers in McDonough, GA. These skilled professionals help navigate the intricacy of HOA rules and regulations.
How an Association Management Company Helps
Homeowners association management companies begin by vetting tenants, completing thorough background checks. Even for short-term rentals, it's important to know who's staying in their client's home. Part of this process includes:
- Creating an application system
- Creating a process for approving prospective tenants
- Checking references and collecting a security deposit
Next, property managers keep renters apprised of association rules and regulations. They're tasked with crafting lease agreements that clearly state the expectations for how tenants should conduct themselves following community bylaws.
From there, property managers need to ensure that tenants comply with these rules. They may also need to conduct bi-annual inspections of the property, checking for any damage caused by the tenant and making repairs as necessary.
Managing Rentals in an HOA Community
Rentals in an HOA community are best managed by a skilled property manager. These trained professionals understand the ins and outs of McDonough, GA real estate, including what to expect from HOA rules, regulations, and bylaws. This works to protect landlords and tenants.
PMI Peachstate offers association management services, homeowner resources, an ROI calculator, and so much more. For HOAs in need of assistance, we also offer helpful board member resources. Contact us today to learn more about our available resources.
