Home Owners Association - Going Ballistic

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Interesting

Yep. 40PSI is the magic number. They can be shipped, taken into tunnels, sent via truck, whatever you want.

If you were a guy with a good lawyer and didn't mind a fight, it would be fun to go after the HOA over this.

flots.
 
Flots,

That is indeed interesting information to know. Seems to me that if you store / transport your cylinders at or below 40 psi you are in the clear, HOA be damned.

BTW, what exactly is your avatar? I recall once having a rather nasty dump in Cozumel that resembled that mass, and was wondering if we might have both eaten the same dish: calamares en su propia tinta. Inquiring minds want to know.
 
BTW, what exactly is your avatar? I recall once having a rather nasty dump in Cozumel that resembled that mass, and was wondering if we might have both eaten the same dish: calamares en su propia tinta. Inquiring minds want to know.

It's some sort of jellyfish from the noaa website.

Sorry I don't remember the name anymore. It just looked cool.

flots.
 
The perception is that once the neighborhood begins to have a significant number of rental properties, the home values will begin to drop.

That's not a perception, that's reality. When the percentage of non-owner occupied units reaches a certain level, typically 20% - 25%, the banks will refuse to write mortgages in that complex. When a perspective buyer can't get a mortgage then yes, the home values will decline.

Having been an HOA board member for many years, we had a clause in our bylaws restricting the number of rented units to 20%. Not because renters are necessarily bad people, but the banks have a different interpretation of high rental rates.
 
There is a thread on the board about this incident and if I remember correctly, O2 was involved.

Apparently 100% O-2 as I assumed when I first read the story on another site.
 
That's not a perception, that's reality. When the percentage of non-owner occupied units reaches a certain level, typically 20% - 25%, the banks will refuse to write mortgages in that complex. When a perspective buyer can't get a mortgage then yes, the home values will decline.

Having been an HOA board member for many years, we had a clause in our bylaws restricting the number of rented units to 20%. Not because renters are necessarily bad people, but the banks have a different interpretation of high rental rates.

How does a mortgage company determine that what percentage of houses are rentals in a community with an HOA? I have seen this for condos because
condo association owns the buildings / land and they have to track rentals.
 
How does a mortgage company determine that what percentage of houses are rentals in a community with an HOA? I have seen this for condos because
condo association owns the buildings / land and they have to track rentals.

I was speaking of a townhome complex, this may not apply to all communities with HOA's. Our management company kept records of owner contact information and occupant name, so it was easy to identify non-owner occupied units.
 
I was speaking of a townhome complex, this may not apply to all communities with HOA's. Our management company kept records of owner contact information and occupant name, so it was easy to identify non-owner occupied units.

Yes, the term HOA sometimes is a condo term. I haven't heard of mortgages being denied where individually owned houses are part of an HOA based on number of rentals.
 
The lender may ask for confirmation of the number of rentals from the association or its management company.
 

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