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re: Homes in upper middle class neighborhoods going up for rent
Posted on 5/16/24 at 9:04 am to SoonerK
Posted on 5/16/24 at 9:04 am to SoonerK
quote:
I know HOA's aren't popular with a lot of people, but my neighborhood's HOA is changing the covenants to limit rental homes at 10% of the total houses and ban short-term rentals. We are right about 10% now and I have no doubt if we don't do something they would be 20+% in a few years.
Most of the renters would have higher incomes than your average homeowner in order to afford high rent payments..Imagine wanting your neighborhood filled with neglected property vs ones being taken care of by real estate companies or management companies
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