Struggling to make ends meet, facing foreclosures and decreased property values, more homeowners are renting out their properties. They do it to make the mortgage and pay the bills while they wait for property values to regain traction before selling.
There’s no shortage of renters. Many people-kicked into the street by mortgage foreclosure and unable to afford a home-are looking for a place to get their feet back on solid ground. Whatever the reason, for homeowners and renters, one thing is certain; homeowners associations are facing the prospect of more renters in their communities. Rentals are not usually welcomed with open arms, perpetuating the divide between resident owners and investor owners.