Owners Desperate To Rent Out Their Homes The Target Of Anti-Tenant Neighbors, Municipalities

A recent column at SmartMoney.com gives a look at the problems facing homeowners in rental-restricted communities - whether it be those who need to move, can't unload their home, and want to bring in some quick cash by renting to tenants; or those who remain and wish to limit rentals, arguing that a failure to do so will result in the neighborhood's quality of life will go down the tubes:

• [F]or owners who have to move or who own houses as investment properties, short-term rentals can bring in some cash and keep them from having to sell at a big loss. But instead of greeting renters with hosannas, many towns and subdivisions are barring their doors, arguing that tenants usher in neglect, misbehavior and even violent crime. Almost 60 million Americans live in developments governed by homeowners associations, and by some estimates as many as 40 percent of those communities enforce restrictions that keep owners from becoming landlords.

For more, see New Battle Affects Home Values: No-Rental Rules.