Monday, 18 June 2018
Agent Resource Center
This Old House - Do-it-Yourself

Tenants From Heaven In Your HOA

Written by Posted On Tuesday, 05 June 2018 20:23

The phrase "absentee landlord" in a homeowner association context conjures up images of the "tenant from hell" and an owner who could care less. However, generally speaking, both the landlord and tenant want the highest and best returns on their investments. What benefits the homeowner association will also benefit them.

Landlords should be required to provide the board with:

a. Name of the tenant and contact information.

b. Vehicle(s) information (make, model, plate number).

c. Copy of the Rental Agreement that references the HOA rules as a condition of the agreement. (This is very important because it places the burden on the landlord to advise the tenant of rules and shows that the tenant received that information.

While the HOA cannot require it, common sense and good management practice indicate that landlords should also:

a. Perform credit checks on prospective tenants.

b. Check several previous landlord references (HINT: The most recent landlord may have a vested interest in getting this tenant out.)

c. Have read and understand the state's landlord-tenant laws, and

d. Identify all occupants in the lease by name to avoid "musical" tenants.

While the landlord is the key to properly framing a tenant's role within the HOA, it's also important that the board, manager and owners refrain from treating tenants like second-class citizens. When treated with respect and like owner members, they usually act the part by taking care of the property and respecting the neighbors. Treat renters like owners and reap tenants from heaven.

For more innovative homeowner association management strategies, subscribe to www.Regenesis.net

Rate this item
(0 votes)
Richard Thompson

Richard Thompson owns Regenesis, a management consulting company that specializes in condominium and homeowner associations. He is a nationally recognized expert on HOA management issues.

Regenesis publishes The Regenesis Report, a monthly newsletter for HOA boards, developers and managers. To subscribe, go to Regenesis.net. He can be contacted by email at rich@regenesis.net.

www.regenesis.net

Agent Inner Circle

1/10

Realty Times TV

The Pros and Cons of Adding On to Your Home
Watch Video »

Realty Times

From buying and selling advice for consumers to money-making tips for Agents, our content, updated daily, has made Realty Times® a must-read, and see, for anyone involved in Real Estate.