After talking and meeting with a large group of residents, who had wanted to discuss options for Board to consider with long overlooked "Short Term Rentals" here at Anasazi.
This growing group has met on 2 occasions and have looked into solutions by other HOA communities who face the same problems and what they enacted to stop the problem
What many of you do not realize is with short term..(Weekly, Nightly) We can be classified a hotel which would reduce our property values significantly.
Here is some of the ideas from our own Residents and Other HOA's of the Caliber of Anasazi
and yes all would have to be looked at by Anasazi Atty
The first is to set a real fine rule in place
1ST Infraction - Warning Letter
2nd Infraction - $100 Fine
3rd Infraction - $500 Fine
4th infraction = No rental for 1 year
If owners are getting $3000 a month our policy now of 3 warnings and then a $50 fine is non threatening from the start...Whats a $50 fine on some who takes in $15,000 in rent ??
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Now 2 other HOA'S Here and some in Florida have set stricter rules to keep property values up
In Arizona and Florida many HOA'S Have clauses that new buyers cannot rent for the 1st year of ownership
Also many Communities only allow 1 Rental per year up to 6 months
or 4 rentals a year of 3 months ?
This above solution would eliminate 80% of the management companies here and also stop many of the short term rentals here..Many on board for this idea here and after further meetings in further weeks we will have a plan drawn by someone with legal background
These are some very good options
WATCH FOR FURTHER POSTS FROM THE SHORT TERM RESIDENTS GROUP
