Rental / Leasing Restrictions - Covenant Amendment Proposal Update

Call 317-713-0739 to speak with a Board Member
to answer questions, arrange pick-up of your ballot, or other concerns.

Response options on the ballot:

IN FAVOR indicates that your household would like the community to be PRIMARILY resident owners by limiting how many homes become rentals (with extra provisions to protect you during times of hardship and grandfathering current leases).

AGAINST indicates that your household would like the community to have an unlimited number of homes to become rental properties without restrictions.

Please Contact Us promptly with your questions seeking clarification regarding what this proposal means to you.
Proposed Amendment for Rental Cap

The mailing homeowners received was the Board’s response to an imminent concern that arose.

On April 13th, the day after multiple notices of purchases of homes by out-of-state investor rental & leasing companies with demands for closing (including information if we have rental caps), your volunteer Board of Directors went to our HOA attorney immediately to protect the safety of the community and your property value.

The Proposal to Amend Covenants & Ballot were mailed as an expedient response and postmarked within 24 hours of the HOA attorney preparation. The process was expedited for to quickly preserve a Resident-Owner quorum. To the best of the Board’s knowledge, our rental ownership was at 12% before April 12th. Deadline for Receiving Ballots: 5pm on Wednesday, May 26, 2021.

An Attorney’s Response was mailed to all homeowners to answer their questions and explain how Indiana state law impacts Decatur Ridge’s Covenants (CC&Rs). Below is the link to the code that guides Indiana Nonprofit Corporations.
(Decatur Ridge Community Association is a Nonprofit Corporation in Indiana.)

IC 23-17-10-8 Action taken without meeting; delivery of written ballots to members entitled to vote on matter

http://iga.in.gov/legislative/laws/2020/ic/titles/023#23-17-15