OUTRAGEOUS RENTAL APPLICATION CHARGES OF HOMEOWNERS' ASSOCIATION KILLS LANDLORDS' FINANCES |
An
Opinion By Jan Bergemann Published October 13, 2008 I was under the impression that our real estate market and our economy are already bad enough. Many homeowners and landlords in associations are fighting for financial survival. For many homeowners the only option to avoid foreclosure of their home is to rent it out for the time being to make the payments -- not only for the mortgage but as well for the homeowners' association fees! Renting out the home to make the payments has been one of the many suggestions made by financial experts to owners trying to avoid foreclosure. But that only works if you are not living in a homeowners' association like Hidden Lake At Boca Chase, where a board creates "APPLICATION PROCESS INSTRUCTIONS" that are plainly usury -- not a process to regulate rental of homes in the community. Imagine an association board charging $350 for screening an application? Not to forget that this application has to be submitted 30 days in advance. Note: There is a $100.00 penalty payment if less than thirty (30) days notice and a copy of rental contract or lease has to be submitted with application. I'm kind of wondering what business the association board has regarding the amount of rent etc. a landlord charges? And to add insult to injury a $1000 "security deposit" is required. Remember, this is a homeowners' association with single-family homes, not a condo building where renters can damage hallways, elevators, etc. Remember, in a HOA the deeded owner is financially responsible for any damages caused by a renter anyway. Now you would think that for these high charges the board would throw in a copy of the governing documents and rules of the association for free? Sorry, not so – that costs extra! If some of these board members don't get a life and return to reality, our economy and real estate market will continue to go down the drain! This is about as outrageous as it gets. Highway robbery is too nice a word to describe this! What do some people think? Money grows on trees?
|