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Authority: Declaration Article VI, Section 6.03
In order to properly track and monitor those single family Lots and Living Units, not multi-family i.e., Eastlake Woods LLC, being leased to non-Owner occupants, these regulations establish a process the Owners must follow when attempting to lease or renew a lease for a single family Lot or Living Unit. These regulations may be extended, amended, or replaced at any time by the Board, and they will remain in full force and effect until amended or terminated by the Board.
B. Declaration Provisions Regarding Leasing
- Article VI, Section 6.03(i) requires that each lease of a Lot or Living Unit involve documentation as to the leasing of the premises that refers to and binds the parties to the Declaration and the other Governing Documents, included these Rules and Regulations.
- Article VI, Section 6.03(ii) requires that an Owner of a Lot or Living Unit notify the Board of Directors of any lease of the Lot or Living Unit.
- Article VI, Section 6.03(iii) allows the Board of Directors to require that all rental or lease arrangement be subject to a written lease reviewed and kept on file by the Board.Moreover, the lease shall provide that it is subject to all Tipton Lakes Governing Documents and that it is in default if the terms of the Governing Documents are violated. Each Owner who leases his Lot or Living Unit is responsible for ensuring compliance with the Governing Documents.
C. Lease Approval Process and Requirements
- Prior to leasing or renewing a lease for a Lot or Living Unit, the Owner of the Lot or Living Unit shall provide the following to the Board of Directors:
(a) a copy of the proposed lease or lease renewal, with rental amounts omitted or redacted.
(b) the name(s) of the lessee(s)/tenant(s)
(c) the term of the lease or lease renewal.
- The Board of Directors shall review each lease or lease renewal to ensure compliance with the Declaration and the Governing Documents. Every effort will be made to respond in a timely manner.
D. General Lease Conditions
- All leases, including renewals, shall be in writing, and no lease shall be entered into for a term of less than one (1) year without the prior written approval of the Board of Directors.
- No portion of any Lot or Living Unit other than the entire Lot or Living Unit shall be leased for any period. (For example: Individual bedrooms or rooms can not be leased separately.) Exceptions may be made for extenuating circumstances with prior written approval of the Board of Directors.
- No subleasing shall be permitted.
- All leases and lease renewals shall be made expressly subject and subordinate in all respects to the terms of the Declaration, By-Laws, Articles of Incorporation, and any rules and regulations promulgated by the Board of Directors, as amended, to the same extent as if the tenant were an Owner and a Member of the Association;
- All leases shall provide for direct action by the Association against the tenant with or without joinder of the Owner of such Lot. If such provision is not in the lease, it will be deemed to be in such lease.
- The Owner shall supply copies of the Governing Documents to the tenants prior to the effective date of the lease.
- The Owner cannot be delinquent in the payment of any assessments or other charges to the Association. If at any time an Owner becomes delinquent, the Board shall have the right to revoke said Owner’s right to lease the Owner’s Lot or Living Unit. Notice may be given even if during the term of a lease.At the end of current lease term the Owner would not be eligible to re-lease the Lot or Living Unit until all delinquent assessments and charges are current.
- No lease shall provide, or be interpreted or construed to provide, for a release of the Owner from his or her responsibility to the Association and the other Owners for compliance with the provisions of the Declaration, the Articles of Incorporation, the By-Laws, and any rules and regulations promulgated by the Board of Directors, or from the Owner’s liability to the Association for payments of assessments or any other charges.