Condo Q&A

Can HOA board receive kickback from rental companies?

Written by CondoAssociation.com | Tue, May 12, 2015 @ 11:16 PM

The HOA board in our oceanfront building (condominium) in South Carolina has decided to give annual contracts to several vacation rental companies. The rental companies must abide by certain rental policies or they will not renew their annual contract plus the companies must pay 2% of their gross rental revenue to the board. Is that legal? Has anyone ever heard of this?