An option that may be worth considering is to charge an amenity fee for renters. $500 a month to have access to all the activities and use the golf cart trails. In other words, your amenity fees only apply to the owners. This would mean that people who are serious about potentially buying and those who are serious about long-term rentals would actually contribute to the maintenance and upkeep of our community. Renters should also be limited on use of guest passes. At any given time particularly during season we are at capacity and many bring multiple guest
down which also impacts availabilities of activities and wear and tear on the community
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.
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