Question:
In NM, is it legal for HOAs to change rules regarding rental periods retroactively?
Our situation:
When we bought our condo in 2018, the HOA rule for our condo complex allowed rentals for periods of 7+ days.
This month, the HOA passed an amendment increasing the minimum rental period to 30+ days.
They have declined to allow us (and four other similarly-situated owners) to be “grandfathered in” to the earlier rule, which would allow us to continue renting our condo for periods of 7+ days.
Is their decision regarding our request legal?
I’d be grateful for an informed response.
Thank you!
– Alma
Answer:
Unless the amendment specifically states that you are grandfathered in (or that it does not apply to existing rentals prior to the amendment), then the new rule does apply to you and the four other owners.
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