New Law on Rent Restrictions

We have a lot of short term vacation rentals in the Coachella Valley.  Some local municipalities and homeowners associations are attempting to impose restrictions on a homeowner's ability to rent their home or condo. Unhappy with this trend, the California Association of Realtors sponsored SB 150, which exempts owners in a common interest development from HOA imposed rent restrictions unless the restriction was in effect prior to the date the owner bought into the development. On July 7, Governor Brown signed the bill into law to take effect January 1, 2012. You can read the entire bill by clicking here http://leginfo.ca.gov/pub/11-12/bill/sen/sb_0101-0150/sb_150_bill_20110708_chaptered.html