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Can homeowners apply for hardship lease agreement within their homeowners association?
Wiki User
∙ 9y ago
'Hardship lease agreement' sounds like language that comes from a rental cap amendment, and assumes that your association has reached the cap, yet you must rent your property.
Given those assumptions, you can petition the association for an exception, with specifics as to the term of the lease. Generally, working with reasonable boards, owners can be granted exceptions in these cases. Your request may or may not be granted.
The documentation you provide can be used by the association to support queries from lenders and insurers, who may resist doing business with the association given its excess rentals.
Wiki User
∙ 9y ago
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A civic association gathers and operates around a civic principle. A homeowners association is a land-use covenant made with the local municipality, county and state that gathers and operates real estate around a set of covenants, conditions, restrictions and reservations. Generally, membership in a civic association is optional; membership in a homeowners association is mandatory when a person purchases property within the boundaries of the association's land plat.
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