AlexL1 (Florida)
Posts: 305
Posts: 305
Posted:
How is a renter's policy established? Is there a guideline? an example of one? Can the Board make it up or does it have to be approved by (say... 2/3 vote of the owners??)
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A Renter's Policy
Started by AlexL1 • 2 replies • 1325 views
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MaryA1 (Arizona)
Posts: 7,043
Posts: 7,043
Posted:
Alex,
A renter's policy would come under the authority that the board has to adopt new rules. If that authority requires a vote of the members (which I doubt), then that would be required, otherwise only a BOD vote would be required. The BOD can put in it whatever they choose as long as nothing is contrary to what is in the community documents. For ex, if the docs say rentals are not permitted then the BOD cannot adopt a rental policy. Here are some of the things addressed in a rental policy:
Requirement for prop owner to make available to all renters copies of the CCRs
Property owner must provide BOD with the following:
1) copy of lease
2) property owner's mailing address
Rental leases must be for at least 3 mos, 6 mos, 1 year; whatever BOD decides
Rental policy required for each new rental
Rental policy must be signed by property owner and returned to HOA w/i XXX days after lease is signed, otherwise a fine of $$$ will be levied
Sorry I don't have an example for you.
A renter's policy would come under the authority that the board has to adopt new rules. If that authority requires a vote of the members (which I doubt), then that would be required, otherwise only a BOD vote would be required. The BOD can put in it whatever they choose as long as nothing is contrary to what is in the community documents. For ex, if the docs say rentals are not permitted then the BOD cannot adopt a rental policy. Here are some of the things addressed in a rental policy:
Requirement for prop owner to make available to all renters copies of the CCRs
Property owner must provide BOD with the following:
1) copy of lease
2) property owner's mailing address
Rental leases must be for at least 3 mos, 6 mos, 1 year; whatever BOD decides
Rental policy required for each new rental
Rental policy must be signed by property owner and returned to HOA w/i XXX days after lease is signed, otherwise a fine of $$$ will be levied
Sorry I don't have an example for you.
RobertR1 (South Carolina)
Posts: 5,164
Posts: 5,164
Posted:
Google "Rental Policies for Hoas" or some such or search the search feature here on this page. Also search Library and other info on Can Link, this page. These forms have to be designed for your association. If you have similar HOA in you area, ask them.
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