Can the HOA establish rental rules and regulations?

[newcondo]

What is the name of your state (only U.S. law)? Maryland.

Hello I am currently in a condo development that is still not finished with construction by the developer. The developer has quite a few unfinished units that he is having a hard time selling due to the economy and has recently threatend to begin renting them. Is there anyway that the board can impose rental regulations as long as they are within the guidlines of equal housing oppurtunity laws and state laws of course? If so what do most HOA's do to make it harder for a developer to begin renting units which will cause the value to decrease due to the abundant rental ratio.

 

[HomeGuru]

What is the name of your state (only U.S. law)? Maryland.

Hello I am currently in a condo development that is still not finished with construction by the developer. The developer has quite a few unfinished units that he is having a hard time selling due to the economy and has recently threatend to begin renting them. Is there anyway that the board can impose rental regulations as long as they are within the guidlines of equal housing oppurtunity laws and state laws of course? If so what do most HOA's do to make it harder for a developer to begin renting units which will cause the value to decrease due to the abundant rental ratio.

**A: what percentage of the project does the developer own?

 

[newcondo]

The Developer owns 28-29% of the property.

 

[HomeGuru]

The Developer owns 28-29% of the property.

**A: then the HOA owners have majority interest over the HOA developer reps. which is a good thing. The HOA should hire legal counsel to provide advice.