I’m not a fan of HOAs (home owner associations), as I dislike meddling in my business, especially when it comes to decorating decisions. However, this HOA has excited my favor:
Using the same legal authority that allows homeowners associations to punish people who fail to cut their grass, the Potters Glen board erected a hurdle for investors: a new rule required any new home buyer to wait two years before renting it out.
Since the board adopted the rule in 2019, property records show the pace of investor purchases has dropped by more than half.
Long time readers may remember this post concerning Erick Erickson’s misunderstanding of how private companies work. I wonder how he’ll feel about the HOAs taking defensive actions.
It’s all sort of … Soviet, I suspect he’ll feel.
