Wednesday, September 14, 2011

Right to Rent by Individual Owners at California Common Interest Developments

RIGHT TO RENT LAW 

New California "RIGHT TO RENT" law at common interest developments (CIDs) is expected to protect private property rights of individual owners.

Thanks to the California Association of Realtors for sponsoring SB 150 on "RIGHT TO RENT" at a common interest developments. 

This Senate Bill 150 was signed into law by Gov. Brown during July 2011 and will be effective starting on January 1, 2012.   

There had been a trend among some homeowner associations in California to adopt restrictions that limit the ability of unit owners to rent their dwellings in Common Interest Developments (CIDs). CA HOA LAW

 

 

The California Association of Realtors contended that imposition of these private rental restrictions by HOAs diminishes an individual owner’s property rights by removing options that were available when the unit was purchased.  C.A.R. sponsored SB 150 (a re-introduction of C.A.R.’s AB 2259 of 2008) to protect the right of a CID owner to rent his or her unit, if that right existed at the time the owner purchased the unit. 

private property rights of owners

Click here to see complete text of this new law - CA SB 150

__________________________________________________________________________

This is for information only and not the providing of legal or tax services.  If you have legal questions about your ownership interest at a California common interest development, you should contact and consult with an experienced real estate lawyer.

Harrison K. Long - solutions for real estate and business - REALTOR® and broker associate, GRI - Coldwell Banker Residential Brokerage - 949-854-7747 (phone) - ExploreProperties@gmail.com(email) - CA DRE 01410855 - SFR short sale and foreclosure resource certified by the National Association of REALTORs® - also now serving as an appointed director at the California Association of REALTORs®

 LinkedIn Find us at Facebook RSS feed  

Posted via email from Explore OC Homes

0 Comments:

Post a Comment

Subscribe to Post Comments [Atom]

Links to this post:

Create a Link

<< Home