HOA Management: Rules to Live By.

Many view the management of HOA properties as a great asset to any management portfolio. We at MAXIMUM agree! Our services extend well beyond the scope of the Single Family Home and Apartment Building realms with skills encompassing the needs of both HOA Associations and Individual Condominium Owners. The highest goal? To help provide a most comfortable living environment while protecting a most important investment. There are many rules and regulation tailored specfically to HOA's, however, that an owner and management team must be kept current on to ensure a safe, legal premises and transactions. An article in today's LA Times (link posted below) discusses the first question in our upcoming series of Blog posts titled HOA Management: Rules to Live By. Namely, how much infleunce does an HOA Association have concerning an Owners right to Lease his or her own unit. In sum, there are indeed some HOA's that require a full screening and approval of any tenant living on premises. That said, it may be in your by-laws and regulations that the community of owners must approve of the incoming tenant. This is a practice in many high-end communities with high profile residents. More common is the requirement set forth by Civil Code section 4740(d) which states that before renting or leasing your properties, "an owner shall provide the association verification of the date the owner acquired title to the separate interest and the name and contact information of the prospective tenant or lessee or the prospective tenant's or lessee's representative." Further, an owner may be penalized for failing to provide this information by the required date. The specifics of this goes beyond a simple blog post and at MAXIMUM we take this concern from your hands. Our team specializes in keeping current with any information pertinent to the leasing of Condominiums- its that much less to worry about.



LA Times Link:

http://www.latimes.com/business/la-fi-associations-20150726-story.html