Proposed Rental Amendment Vote Information
PENDING RENTAL AMENDMENT
We have heard your complaints and concerns about the number of rentals and the impact that the rental units, including the short-term rentals, is having on our community and your quality of life. For several months now, the Board of Directors for Davis Lake Community Association, Inc. has been working on how best to address those issues and what can be done to place reasonable restrictions on rental units in the neighborhood.
The Board of Directors is in the process of proposing a Rental Amendment to the Declaration of Covenants in order to provide reliable guidelines governing rental properties in Davis Lake. Of particular concern is the influx of large investors into our community, many of whom purchase multiple properties for the sole purpose of leasing them out. The Amendment will require a 24 month waiting period from the date of closing until when the property can be leased. In addition, other restrictions provide a level of governance on how these investments can operate. It is our hope that this amendment, if approved by the Voting Members, will not only protect our shared interest in Davis Lake but will help protect our property values. In order to pass the proposed Rental Amendment, 67% of the Voting Members must vote in favor, so please be prepared to vote when the time comes.
More information will be forthcoming soon announcing a town hall discussion date and when owners can anticipate receiving their ballot to vote. Thank you to all Davis Lake residents who have been so supportive of this initiative.
The Davis Lake Community Association Board of Directors