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Schaumburg Residential Rental License Application

All unit owners who do not reside in a unit owned by them shall provide the Board with their permanent residence address and phone numbers where they may be reached in an emergency, both at home and at work. Any expenses of the Board incurred in locating a unit owner who fails to provide such information shall be added to that owner's account and collected as any other assessment. Any unit owner who fails to provide written notification to the Board with a current mailing address shall be deemed to have waived the right to receive notices at any address other than the address of the unit, and the Board shall not be liable for any loss, damage, injury or prejudice to the rights of any such unit owner caused by any delays in receiving the notice resulting therefrom.

All Leases Subject to Declarations

Every lease shall be in writing and shall be subject in all respects to the provisions of the Declaration, By-Laws, and Rules and Regulations of the Association.

Unit Owner to Provide Lease and Rider

Every unit owner intending to lease a unit shall give a minimum 45-day notice to the Board of such intention, whereupon the Board shall provide the unit owner a Rider which shall be added to the lease and shall be signed by all the parties executing the lease. The lease rider form is located in the 'Forms" section of this booklet as exhibit "A".

Unit Owners' Responsibilities

Each unit owner shall be responsible for providing his or her tenants with copies of the Declaration, By-Laws, and Rules and Regulations. In addition, the Association shall be given both a signed original valid lease and Rider to every lease of any unit on the property prior to the occupancy date of said lease. Any expenses incurred by the Association in obtaining these documents shall be assessed to the unit owner responsible as a Common Expense.

Unit Owner Responsible for Tenant's Violations

If a tenant violates any provision of the Declaration, By-Laws or Rules and Regulations, the Board, in its discretion, shall determine what action or actions should be taken against the unit owner or tenant, as the case may be.

Association May Hold Tenant Liable for Breaches

Notwithstanding, anything in the foregoing section to the contrary, the Association may proceed directly against a tenant to seek any of the remedies set forth in the Declaration, for the breach by the tenant of any covenant, rule, regulation, by-law, or statutory provision.

Unit Owner to Pay Expenses

All expenses of the Board, in connection with any violations under these rules, shall be assessed to the account of the unit owner responsible as any other assessment.

Effective Date of These Provisions

Provisions herein that relate to the execution of new leases all become effective upon the expiration of any lease that is currently in effect. However, the requirements herein are effective immediately. Unit owners shall supply the Association with a photocopy of any existing lease no later than thirty (30) days after the effective date of these rules.