For the last two years, my daughter has been an Airbnb host but only three days ago did we learn that her HOA prohibits Airbnb. The CCC&Rs received on May 15, 2017 note only "residential use" and make no mention of Airbnb.
Curiously, only a few months ago, one of her HOA board members -- who also happens to be an attorney -- reserved my daughter's Airbnb space for his visiting parents. Obviously, even board members/attorneys were unaware that the CC&Rs prohibit Airbnb.
My daughter purchased her unit in 2004, long before Airbnb was launched in 2008. Section 3.1 of the CC&Rs makes no mention of Airbnb but brief Internet research confirms that courts consider this type of CC&R "residential" clause to apply to Airbnb short-term rentals.
Like many other owners with similar concerns voiced on the Internet, we would like to challenge the CC&Rs but also do not want to incur legal fees fighting "lost causes."