HOA question

[olijam]

I currently live in California, but have owned a condo in Austin, TX for the past 8 years. I have been renting it for the past 7 years using the same property management company. Unfortunately the HOA has decided to take over all rentals and are asking me to pay them a monthly fee plus a deposit. They mailed the by-laws to me, but there is nothing in the by-laws about their responsibility. Is it legal/right for them to force me to turn over my condo to them after using an outside management company for 7 years? They are instituting it on Jan 1, 2011 after warning me a year ago. Unfortunately, my tenant is still in a lease with the outside management company-I'm not sure when the current lease ends, but they are saying all grandfathered leases are now void and I must pay a monthly fee to the HOA in January for renting my condo. There is also a clause that states that if 14 units are already being rented when my current lease expires, I will not be able to rent it out.
After just finishing grad school plus living in California my finances are not in order and I'm feeling like I'm being taken advantage of by the HOA board. Any advice would help. Thank you.

JO

 

[Dave1952]

You had a year to prepare for this, so where are you? Did you notify the property management firm? Is this addressed in your current contract with them? Have you notified your tenants? Is this addressed in the current lease?
Do you plan to oppose this HOA ruling? On what grounds? Do you have an attorney?
How does the HOA's property management contract and fee structure compare with your old managers?
Please don't tell me that, with one month to go, you've done nothing.

Good luck