Quote:
Originally Posted by Laker14
On another thread a poster mentioned that when he/she bought a new property from the developer in one of the newer sections, they had to sign a contract that explained that the property could not be rented out.
I didn't want to hijack that thread with questions, so here goes.
1. Is that accurate?
2. When did they start that practice?
3. What would the developer's likely motivations be for such a covenant? Wouldn't it make the market for their homes more desirable if folks wanting to buy as an investment were also able to buy the new homes?
I'm not understanding this at all.
|
I reviewed several of the deed compliance documents for areas 12 and 13 and there is no mention about restricting rental of the properties. Unless it was a separate document, then this appears to be misinformation.