Associations & VRBO

Associations are a common way to own land in Lakes Country for a couple different reasons.  Probably the most common example is to address senior living arrangements where owners want to still own their own home but avoid lawn maintenance and other headaches of single family home ownership.  The other common example is shared ownership along lakeshore as it is so expensive to own your own lake house.

Another reason to establish an association is to create rules regarding how each owner can use their property.  Historical examples of regulation are outdoor storage, size or color of homes, pets, prohibition of home business… An issue that is now becoming more of a hot button issue is how people can rent their homes.  VRBO has really changed the local real estate market and covenants recorded with associations can regulate that use.

If you are a buyer that may want to rent your home, make sure you review any recorded covenants before you purchase.  Do they regulate rentals and how can rules be amended are issues that one should know before making a new investment.

If you are a current owner that wants to guard against neighbors renting out their homes, look into your association rules and consider amending them to regulate rentals in a way that the neighborhood can agree upon.

Please send any request for topic suggestions to rene@breenandperson.com.  Although we cannot give you legal advice through the column, we can provide some general information that may be helpful for you to know.  Our purpose is to educate and we hope that you can take something new away from this column each time you read it.