Rental Limitation Amendments – The Clock is Ticking!

If you read both of my blogs you can skip this message as it also appears on the California Condo & HOA Law blog. Anyway, here goes (this is important information on rental limitation amendments):

New legislation was signed into law that radically changes the impact of rental limitations approved and recorded in California on or after January 1, 2012. No owner will be subject to any of the limitations unless they actually consent to them or purchase after they are in effect. This will require boards to follow up during voting on such an amendment or afterward to present a legally valid consent form, and the likelihood is that while an owner might vote in secret to approve a rental amendment, they may be less inclined to sign a consent form. Certainly, those who do not approve will not be signing consents.

Thus if the board has been chewing on this subject for awhile it is time to act and give the owners the chance to approve an amendment that would bind all owners. It is okay to consider grandfathering all owners if that is necessary to getting it passed.

If this is all greek to you, visit my website and read two things – links to which are on the main page of www.californiacondoguru.com:

1. “Lease Limitation Provisions – Are they Legal in California”  AND

2. The August E-Newsletter found in the E-News Archives!

Get educated and get moving! Drafting the amendment takes time, voting takes time (at least 30 days) and recording takes time (there are lots of government holidays in November and December.

Feel free to email me and request a proposal while you are doing the research.

Beth

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2 Responses to Rental Limitation Amendments – The Clock is Ticking!
  1. David Rackliff
    October 31, 2011 | 2:06 am

    Do you or do you have a recommendation for someone who looks over HOA / CC&R info and advise before purchase? Im entering excrow tomorrow. Thx

    David Rackliff
    8187494337

    • Beth Grimm
      November 9, 2011 | 5:28 am

      Short notice. There are lots of tips in my book THE CONDO OWNERS ANSWER BOOK available through my website at http://www.californiacondoguru.com in the webstore, or through Amazon.com.