[Everyone] Amend Bylaws re. Rentals

[David Weiner]

On Mon, Feb 8, 2021 at 9:46 AM Sara Crews <sara408 at comcast.net> wrote:

> I’ve been mulling over our conversation pertaining to rental of
> townhouses.  This topic was discussed during our December meeting.  Janis
> (then 410 owner) advised that the potential “investor “ inquired about
> leasing out the townhouse.  Janis assured him there were no provisions in
> the HOA bylaws to prevent that from happening.  Last night through diligent
> research on Elaine’s part, we learned that the potential buyer in claiming
> to reside at #410.  There is a huge difference between ownership and
> resident.
>

Joanna and I did some research last night, including emailing Janice
directly.  Her closing is not until Tuesday.  If you remember what Elaine
brought up, it's not that Maryann claimed to reside at 410, it's that she
googled her and found a listing that said that at one time, she had lived
there.  Since Janice is still the legal owner of 410 and she bought the
house in, I believe, 2005, it is possible that Maryann did reside at 410
sometime in the past, but as far as we can tell, is not buying 410 in
addition to 344.  We got an email today from Maryann with questions about
moving in, so she will be an owner in residence.  Everyone can stop
worrying about some big corporate buyout of the neighborhood.


>
> We are all aware that rental properties have skyrocketed, and that’s why
> so many of us are being deluged with calls from investors.  To protect our
> investment, we need to be prudent in immediately amending our bylaws to
> prevent yet another potential lease.  We’ll soon be at 20% rentals.  It’s
> my recommendation that one of our legal experts draft an amendment to our


At this point in time, it does not appear that there any other "potential
leases".


> bylaws stating effective February —, 2021 there can be only 10% single
> family rentals at any give time.  Another clause needs to include that
> should the owner reside in the townhouse, he/she could rent out a portion
> of the house.  The draft could be posted on our website for review with a
> cutoff date.  If the majority approves, it could be voted on via the
> internet rather than having yet another meeting.
>

As you may remember Mark mentioning at the December meeting, such a change
to the bylaws might be more complex than just a simple vote.


>
> Just my thoughts for whatever it’s worth.
>
> Sara
>

Dave
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