QUESTION
Do I have a chance if I file a lawsuit against my HOA? Non-disclosure of docs during unit purchase.
Asked on May 05th, 2016 on Real Estate - Pennsylvania
More details to this question:
When I was in the process of purchasing my condo, the condo management company (hired by the HOA) did not give me all the condo docs. The latest revision had rules restricting rentals and I got to know about this only after buying the condo. The HOA has been extremely difficult to deal with and needed lot of convincing before they allowed me to rent my unit. My current tenant wants to renew the lease - however the HOA says they can only allow a month-to-month lease (I will have to ask my tenant to vacate if someone else decides to rent his/her unit). Another important point is that folks who had owned their unit before the new rules came in were grandfathered in. My options are either file a lawsuit or sell my unit.
1 ANSWER
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Maybe the answer is for the HOA to enter into a lease for whatever term you and your tenant desire but that the lease can be terminated by the HOA at any time on 30 days' advance notice. Isn't that basically the same thing as a month-to-month lease? If the tenant is paying rent timely, why would the HOA ever terminate? There's little chance you get your purchase money back voluntarily short of selling the unit. A lawsuit would be a very expensive way to try and solve this problem. If I were you, i'd try and exhaust all non-litigation options first.
Answered on May 05th, 2016 at 12:18 PM