Quote:
Originally Posted by Garywt
I think it becomes an issue when people own 5-10 homes to rent out. Once you own a house I am not sure they have a right to stop you from renting it.
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if what I read on the other thread is true, and the person who posted was talking about their own personal experience, one signs a restrictive covenant with the purchase documents stating that they will not be allowed to rent the place out.
As I said in a previous post, I get why an existing owner might prefer not to have rentals in their vicinity, but what I really want to know is:
Is this true? Do we have anybody out there who has recently bought and can verify this restriction?
and secondly,
Why would the developer want to include this restriction? It seems to me to reduce the pool of potential buyers.