Investor buyers are a growing part of the real estate market as hedge funds and wall street banks buy homes. Many homeowner associations (HOAs) have decided to ban investors from buying homes in the communities. One of the reasons HOAs have banned investor buyers is because too many investors buying in a condo complex will make the complex no longer eligible for FHA financing.
It has been very common for communities to ban short-term rentals like AirBnb and VRBO, but its becoming more popular for HOAs to allow only owner-occupants to purchase. Usually the requirement is that the home sits vacant for 6 months or it must be occupied by and owner for that time period.