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Lease Rider

There are several important items that every investor owner should consider when leasing their unit. These items not only help ensure the success of the owner -tenant relationship, but also contribute to the successful operation of the Association of which the owner/investor is a member.

ALL OWNERS MUST:

Notify the Association Board of Directors or their managing agent of all current occupants of the unit, including children. This notification should not only include the name of each occupant, but the phone number for the unit, the number of vehicles used by the occupants of the unit, the number and type of pets, etc.

All leases must be in writing and in conformance with and make specific reference to the legal documents of the Association. The property owner is ultimately responsible to abide by all the provisions and restrictions imposed by the Association's legal documents, whether the owner resides in the unit or not. If a tenant violates the documents or rules and regulations, it is the unit owner who will be held responsible.

All tenants are required to be given a copy of the legal documents and the rules and regulations that have been adopted by the Association's Board of Directors. Tenants should be informed that this information is being provided to them because because they are a part of the Association by virtue of their residence and obligated to observe the documents, rules and regulations.

All tenants should be advised of the operational structure of the association, that a portion of their rent is used to pay the monthly Association assessment on the unit and what that assessment is used for.

All applicants for rental should complete a formal tenant application. This is important to ensure all the information necessary to make a good judgment on the qualifications of the applicant is ascertained.

The unit owner is absolutely obligated to pay al of the Association fees since they are a covenant running with the land; all special assessments of the Association; any increases in taxes; move-in charges; maintenance costs; or any special fees or charges imposed by the Association.

All leases must include provisions for the tenant obeying the By-Laws, Declaration, and Rules and Regulations of the community, including the payment of any fines for rule violations, with a written acknowledgement by the tenant that they have received and accept all of the conditions.

Make sure the new tenant has the following:
Access to parking
Keys to mailbox and common areas
Community handbooks and a copy of this Rules & Regulations document
Emergency numbers
Landlord address and telephone number(s)

Any violations of the Declaration, By-Laws, or Rules and Regulations may result in a fine or in serious situations, including eviction proceedings. All fines, costs and fees will be charged to the unit owner.

All unit owners who do not reside in the unit owned by them shall provide the Board with their permanent residence address and telephone number 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 assessed to that unit owner's account. Unless otherwise provided by law, any unit owner who fails to provide such information shall be deemed to have waived the right to receive notices at any address other than the address of the unit, and the Association/Board shall not be liable for any loss, damage, injury or prejudice to the rights of said unit owner caused by delays in receiving notice resulting there from.