It is the desire of the Association that units be owner-occupied. The Association establishes the following guidelines for the rental of condominium units:
13.1 Number of Rental Units
At no time shall more than 20% (28) units in the condominium be rented to non-owners.
Hardship exceptions will be considered by the Board of Directors, as described in Amendment #4.
13.2 Rules to Rent
An owner wishing to rent a unit must apply to the Board of Directors, in writing, for permission to rent the unit. This written notification will include the unit number to be rented and the permanent mailing address of the owner.
The Board will accept all applications for unit rentals on a first-come first-served basis. After the quota number of 28 units has been rented, the Board of Directors will maintain an owner unit rental request list. The list will be maintained on a first-come, first served basis. Should a rental unit become available; the first name on the list will be contacted by the Board and advised that said unit may be rented.
When a unit is approved for rental, the owner has thirty (30) days to seek approval of the renter from the Board of Directors. The owner must comply with House Rule 13.3, Renter Approval.
13.3 Approval of Renter
Upon approving a unit for rental, the Association will provide the unit owner with a Parterra Condominium Rental Packet.
13.4 Owner Responsibility
All owners leasing their unit must provide a copy of a rental or lease agreement to the Property Manager. Each owner who rents a unit shall distribute a copy of the Parterra Condominium Rules and Regulations to the leasing tenant or renter at their own expense. Owners must have renters provide the ParTerra Information Sheet within the first thirty (30) days of occupancy. The association will provide the form.
13.5 Rental Compliance
Homeowners failing to comply with Sections 13.1 through 13.4 will be subject to a monthly fine of up to $1,000.00 per month and legal action, as outlined in Section 2.
13.6 Amendment #4
See Amendment #4 for additional and specific details pertaining to the rental process.