What is best for the neighborhood in real estate .

What is best for the neighborhood in real estate? How does that conflict with homeowner property rights? The two could be in conflict from time to time when it comes to things like Airbnb, VRBO, Short, any type of long term rental, short term rental use of your property in unique ways, right?

Or solar panels or, you know, business uses of your property there. So let’s kind of talk about from a neighborhood perspective what you would probably want to see and.

How it varies for everyone. But it goes back to I think you should be able to utilize your property for what you want and if it’s rental or whatever. And as long as those activities are managed, you know, there’s an aesthetics and then there’s, you know, well, a lot of it is aesthetics, right? That we want. We don’t want deals.

Yeah. And how it feels because that maintains everyone’s value.

So just because it jumps up just a little bit, right? Because individually you have a price in a way that you want to protect. But the neighborhood is now a conglomeration of ten, 20, 50 to 100 hundreds of homes, and they are looking out for the greater good of the collective unit as a community. Yeah. And they want to restrict certain things to protect everybody. Yeah. And it can be in conflict.

It could you know, you talked about solar panels like some people, I want to have solar panels and then, you know, how does it look? So those are in conflict. But, you know, here are some things that happen that I think are the negative of that. So say our neighbor over there decides that they want a bright pink door.  Bright pink door.

And the highway. All of a sudden it’s like now you can’t have that just because that one person doesn’t like it. So there is a benefit to having an air way and you have all these things in writing. But say that particular item isn’t in writing and it doesn’t exist in your covenants, then they can’t force you to do something just because it’s one person doesn’t like it, you know what I mean?

So you have you know, a lot of people don’t they’re not, you know, proponents of HOAs. But I think that they do, as long as they’re managed properly, which involves the way that can be managed properly, is one now they have to to the new homeowner HOA laws. But for all the community to get involved and show up, you know, we’ve shown up at our HOA meetings and there’s been two people.

So if you don’t show up, you know, you’re not going to be in the know, you’re not going to know what’s going on and it’s a problem. So these exist for a reason. If somebody tells you you’ve got to trim your hedges and you see the neighbor doesn’t have their hedges trimmed, look in your yard or your covenants and see if that exists.

Right. So, you know, I think that their everything is intended and those houses are intended, you know, to to maintain and help your values as a homeowner.

Yeah. From what society has kind of judged to be the correct thing because when you talked about the pink door, wouldn’t it be interesting? I like yeah, it might.

I might like to think, you know, oddly enough, it might be a great idea. But what if the HOA said nobody can have the same color door and they all have to be different color doors? Yeah. Why is that not a style? Why did society vote that everybody shouldn’t have a different color door?

And then you could say, Oh yeah, the guy with the yellow door, the guy with the green door, the blue door. And you would know which house you’re talking.

About and then know maybe those those covenants are all of. Voted on right by the by the community. So, you know, I think to protect one thing to protect your your your property is having an HOA.

So we’re going to do a live test of that. Shauna, do you think it’s a good idea maybe at Wendy Farms that we restrict it that no one can have the same door color and everyone has to have a unique door color? No, no, that’s not happening.

I just don’t see that.  Wow. We just did a live test and now. They know.

Have the results. Ladies and gentlemen, that is all about your neighborhood and your property owner rights and how sometimes turn conflict, protect them. Next. Let’s go, Ramazan. I got time for it. Amazon versus construction industry. Let’s go ahead and reboot that aisle and do it right.
What is best for the neighborhood

Episode Links

VRBO, Airbnb, HOAs, Wendy Farms, Amazon, Mike Acquisto , Shana Acquisto , TNT 

Episode Recorded Live on YouTube 03.30.22

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