Mine sits on the side of the house. No HOA where I'm at, but I do have CC&Rs that 'require' me to park the trailer behind the fence in the 'back' yard.
I do cover my trailer with a large tarp when not used for long periods of time. I was just too cheap to go and spend a few hundred on a fitted cover. Tarp and some 1/4" rope and bungees is a whole lot cheaper!
I'm nearing 3yrs that I've owned the trailer, and it has spent about 75% of the time uncovered. I do a lot of traveling for work, and take the trailer to stay in when I can Everything still looks fine other than a bit of fading on the plastic trim piece on the entry door.
