Property rights are, as we have noted, rights to exclude. That means to exclude everyone, not only those who have agreed to the exclusion. Limitations of restrictive covenants Common ownership of the property is required initially. Recall how difficult it was to achieve common ownership of oil reservoirs. Compare to New Albany, Ohio, and the large community developed by Leslie S. Wexner and his associates.
Restrictive covenants are difficult to modify.
Modification requires that all property owners agree to change. Solutions include limited term covenants with policies for renewal, court refusals to enforce value-reducing covenants. Damages in preference to injuction One obvious solution to the inflexibility of restrictive covenants is to constitute an ongoing body to internalize and review relations among property owners. The homeowners association is an example of such a device. Zoning Separation of Use Commercial, residential, industrial.