[noalay]

What if its a lease option to buy? Then its almost like a sale. Maybe the HOA cant govern something such as that. Just a thought.

[Charles22]

Would YOU want to live next to a renter?

[unf0rgiven6262]

Originally Posted by Charles22

Would YOU want to live next to a renter?

Are people who rent are of a lower social stratus? Because we all know homeowners never cause problems for each other. In any case, issues with renting are easily solved by properly screening prospective tenants, creating a quality agreement and getting a reasonable deposit beforehand.

[airics]

Originally Posted by noalay

What if its a lease option to buy? Then its almost like a sale. Maybe the HOA cant govern something such as that. Just a thought.

won't matter, you still have to play by the rules

[Superman12]

Originally Posted by Charles22

Would YOU want to live next to a renter?

I can understand why HOAs stop owners from renting out there homes. I live in a community where HOA allow renting out of your homes. Being a property owner and living next to renters can be a nightmare. The property that is next to me had 4 different renters in one year. Sad, since renters don't care about their neighbors. As a matter of fact, the renters I saw actually brought trouble with them.

[Scott456]

It really depends on the neighborhood itself. Don't tell me the renter of a $1 million home is going to ruin your life as a home owner next door.

[ladyat62]

You just have to be careful of who you rent to. Do a security check etc. Interview the people and ask questions etc.

[Superman12]

Originally Posted by Scott456

It really depends on the neighborhood itself. Don't tell me the renter of a $1 million home is going to ruin your life as a home owner next door.

How many people are going to rent a million dollar home. BTW, all the million dollar homes valued in Vegas are now worth $250,000. Final thought, how many people in Vegas make enough to rent a million dollar home?

[jfkIII]

The best home renter tends to be a previous homeowner, IMO.

[007 license to sell]

Originally Posted by Superman12

How many people are going to rent a million dollar home. BTW, all the million dollar homes valued in Vegas are now worth $250,000. Final thought, how many people in Vegas make enough to rent a million dollar home?

There are renters for million dollar homes in and around Las Vegas,those types of renters usually are renting for a short term while they are here doing business in Vegas or for various other reasons. That aside even some rich people can be bad neighbors and I have seen some even trash the properties.
Just because someone has money doesn't always make them a more responsible person. Case in point Charlie Sheen, or Paris Hilton, just to name a few.
When purchasing a property you have to get your priorities straight.
If it's being purchased as a rental you need to make that a priority to find out if you can have it as a rental. Before you even purchase you are given and hoa resale pkg to look over before you even purchase. During that time you have to look for the key things that mean the most to you.

for instance making sure the hoa has enough in their reserves to pay for up keep of the common area's and look for any litigations, and look over the rules and regs with a fine tooth comb to make sure there isn't something in the rules and regs that you wouldn't be able to live with, have your realtor or an real-estate attorney go over it with you.

Call the HOA and ask questions this is not the time to sit back and be complacent in your due diligence. Purchasing a property in another state is like purchasing in another country it will be different then where you currently live, and it doesn't matter how many properties you have purchased in the past these are different times and even the most seasoned buyer could be blind sided. Buyers can't afford to take short cuts in their due diligence.
I had a client that I had informed him about some problems a particular community was having, I didn't tell him to discourage him but to help him make and informed decision. He insisted in making an offer and we got our offer accepted, but once he saw that between the two hoa's there were 1400 pages he decided it was time to cancel. IT was to overwhelming and he didn't want to deal with it and hire an attorney to look at it.
This particular buyer of mine is a [SIZE=4]ceo[/SIZE] of his own company and believe me he reads contracts all the time and he had never seen anything like this when it came to purchasing a residential property. Case in point no matter how savvy you may be you still have to be very proactive in your purchase.