Reducing Rental Homes in Johnson County, Kansas

Lets Save More Homes for Owner Occupants to Purchase!

There is a welcome trend in some maintenance-provided communities in Johnson County, Kansas. Some regular, single-family home communities are participating in this trend also. Homeowners associations (HOAs) are doing the hard work of amending their bylaws to restrict rentals in their communities. Yes, this will be controversial, but learn about the good reasons for this.

• Housing shortage
  • Everyone is aware of our housing shortage and how it has escalated prices dramatically. There are multiple causes of this, but contributing to it are homes (of every sort) being gobbled up by investors and turned into rentals.
  • Let the investors buy apartment buildings instead.
• Stable property values
  • Rental homes often do not have as nice of an appearance as an owner-occupied home.
  • It has been easy for HOAs to make their case on this alone.
• Lender requirements for future buyers
  • If there are too many rentals in an area, the property won’t meet the requirements for an FHA loan on a condominium.
  • Most home buyers will need to pay for an appraisal. If the property values are declining due to rental properties in the community, the property might not meet appraisal requirements.

Certainly, investors will not be happy about this, but they can invest somewhere else. We NEED homes for owner occupants! Apartments are being built everywhere like mad; these guys can buy into those and leave us our homes.