Olde Schaumburg Condominium Association

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Schaumburg Residential Rental License Application

Limits on Lease Terms. No Unit shall be leased by a Unit owner for hotel or transient purposes or for a term less than six (6) months and no portion of a Unit which is less than the entire Unit shall be leased. Units may be leased, occupied or used for residential purposes only by a single family, and may not be shared or utilized by more than one family or unrelated individuals. Each occupant shall be identified in the lease.
Each lease of any one or more Units shall be in writing and a copy of every such lease, as and when executed, shall be furnished to the Board not later than the date of occupancy or ten (10) days after the lease is signed, whichever occurs first. Every lessee and occupant shall be bound by and subject to all of the obligations, under the Declaration, By-Laws, Rules and Regulations which shall be deemed incorporated in any lease executed or renewed. The failure of the Unit Owner making a lease to include these requirements and the failure of the lessee to comply therewith shall constitute a default under the lease which shall be enforceable by the Board or the Association, and the lease shall be deemed to expressly so provide.

The Unit Owner making a lease shall not be relieved by the lease or leasing of the Unit from any of the obligations in the Declaration, By-Laws, Rules and Regulations. Any failures or breaches of this provision shall be the basis for initiating any and all remedies set forth in the Declaration or allowed by law, including an action to enjoin a tenant from occupying a Unit or to seek to evict a tenant under the provisions of the Code of Civil Procedure for failure of Lessor-Owner to comply with the leasing requirements prescribed by this section or the Declaration, By-Laws, Rules and Regulations. The Board may proceed directly against a tenant at law or in equity or under Article IX of the Code of Civil Procedure for any breach by tenant or its family, guests, or invitees of the Declaration any covenants, rules, regulations or By-Laws.