Investment Properties/Leasing
It is imperative that the Management Company and the Board should know who is living in our Community.
Per Article 14 of the Declaration:
Property owners must forward a copy of the fully executed written lease and fully completed Census form to Continental Property Management, Inc. within ten (10) days after Execution of a new lease arrangement. No Unit shall be leased or subleased for transient or hotel purposes or for an initial term of less than six (6) months.
Landlords will be charged a $50.00 administration fee for maintenance and retention of leasing files each time a new lease is executed.
Failure to report a new lease arrangement within ten (10) days will result in a $200.00 fine.
Pre-existing leases must be brought into compliance. Failure to report an existing lease within 10 days of a violation letter will result in a $200.00 fine.
Landlords shall provide a copy of the Rules and Regulations, Bylaws and the Declaration to their tenants.
Tenants are bound by the covenants, conditions, and restrictions set forth in the Declaration, Bylaws, and Rules and Regulations. Landlords are ultimately responsible for tenants’ actions and are liable for any damage done to Association property and/or violation of the provisions of the Declaration, Bylaws and/or Rules and Regulations. Violation of the aforementioned documents shall constitute a default under the lease or sublease. Each Unit shall be used as a residence for a single family or housekeeping unit. No Unit may be leased or subleased to a corporation, organization, or individual for transient usage or hotel purposes.