Top 3 Risks of Home-Sharing to Homeowners’ Associations

Home owners’ associations are a great way to keep a community safe, vibrant, and united in purpose. However, a new issue has arisen with the increase in home-sharing in some associations. With the prospect of easy money for simply renting a space already owned, many homeowners are attracted to sites like Airbnb or Vrbo. This has necessitated many associations to review their HOA guest policy to address these top three risks.

Quick Turnover

Sometimes the risk is not just that there are guests in one of the properties, but rather that there are frequently so many new ones. This presents a concern to residents who may suddenly find their property inundated with unvetted strangers.

Property Overcrowding

Another danger is the number of people who may be occupying a single property. This can mean loud or unruly guests who impede on other residents’ peace and privacy.

Guest Damages or Injuries

Guests who damage common property or who are injured may collect from the association’s insurance policy and could require an assessment if the payout is significant enough. This can make residents unhappy with the arrangement and unfairly responsible for another’s commercial enterprise.

With home-sharing becoming a bigger business, these issues are coming to the forefront for many associations. It’s vital to identify and address these problems before they cause significant issues within the community.