Dear Residents,
Your Board of Directors has had an issue brought to their attention that may affect all owners. The frequency of unsolicited offers to buy homes in Majestic Oaks has skyrocketed. Most, if not all of these offers are funded by investment buyers, not real estate companies working for potential single-family buyers.
The board has looked into amending the deed restrictions to prevent rentals by investor-owners unless they have lived in the home for a minimum of two (2) years. After consulting with legal counsel, their opinion is that even with a restriction requiring the owner of the property to live in the home for two years, it would likely be unenforceable except under very limited circumstances.
We have, therefore, decided not to proceed with this effort.