Rental Of Residential Condominiums

Rental

A Homeowner shall be entitled to rent their Unit (but not a portion thereof) for a term of not less than one hundred eighty (180) days. If owner acquires title after recordation of amended section 7.8 of the Declaration, they must occupy the Condominium for a period of not less than one (1) year before acquiring the right to lease or rent the Condominium and no more than twenty-five percent (25%) of the Condominiums may be leased or rented at any time. The Homeowner shall be responsible for all actions of the Lessee and will be liable for any costs associated with the violation of any provision set forth in the Governing Documents, including any failure to maintain the Unit in accordance with the requirements of the Homeowner Maintenance Manual.

Lease Agreement

Each lease agreement must (a) be in writing; (b) be for a term no less than the term permitted by the Fifth Amendment to the Declaration; (c) provide it is subject to all the Association Governing Documents; and (d) provide that any failure to comply with any provision of the Association Governing Documents will be a default under the lease agreement. Upon the request of the Association, the Residential Owner that is a party to a lease agreement shall deliver a copy of such lease agreement to the Association.

Notification

The names and contact numbers for each Lessee must be submitted to the Association within seven (7) calendar days of the execution of any lease agreement by delivering a copy of the executed lease agreement pursuant to the Declaration, together with an executed “Residential Condominium Rental Form” (available in the Forms Section of this Rules and Policies Handbook) certifying its lease agreement complies with the requirements of this Section and the Declaration and the other Association Governing Documents.

Amenities

Privileges to use the amenities in the Building transfers to a Lessee upon the commencement date of its lease agreement. Except to the extent necessary to enforce its rights under a lease agreement, an Homeowner shall have no right to use the Association Property during the term of a lease agreement for their Unit.

Responsibility of Owner

Each Lessee must comply with all the maintenance responsibilities of an Homeowner with respect to the use of the Unit and all Exclusive Use Easement Areas. However, the Homeowner who is leasing his or her Unit is not relieved of the maintenance obligations when his or her Unit is leased. The Association will hold such leasing Homeowner responsible for any failure or non-compliance of its Lessee(s) to diligently perform the maintenance obligations set forth in the Warranty and Maintenance Manual and any other obligations under any of the Governing Documents. In the event any Lessee causes damage to the Community or violates the terms of the lease agreement, the Association will pursue available remedies against the applicable Homeowner and/or the Lessee. However, even if the Association elects to pursue remedies against the Lessee, the Association still has the right to also pursue remedies against the applicable Homeowner whose Lessee or Invitees have violated the Association Governing Documents and the Homeowner remains primarily liable for the actions of its Lessees and Invitees.

Timesharing

No Unit may be divided or conveyed on a time increment basis of measurable chronological time periods, short term rentals or use of listing service for short term rentals is prohibited. There shall not be any agreement, plan, program or arrangement under which the right to use, or occupy or possess the Unit rotates among various persons, either corporate partnership, individual or otherwise, on a periodically recurring basis for monetary or like-kind use privileges.

Assessments

A Lessee shall have no obligation to the Association to pay assessments imposed by the Association. Each Homeowner remains liable for the payment of such assessments.

Insurance

Homeowners are responsible for ensuring that their Lessee maintain the appropriate renter's insurance in sufficient amounts to cover the cost of replacement of all such Lessees' personal property and liability at AXIS during the entire term of their respective lease agreements. The obligation of the Lessees of Homeowners to maintain renters' insurance in no way limits or replaces the insurance obligations of Homeowners under the Association Governing Documents. Since each insurance carrier may vary in policy, it is each Homeowner’s responsibility to obtain the appropriate type of insurance for such Homeowner’s Unit while it is leased and that the form of such insurance, including all coverage amounts, complies with such Homeowner's obligations under the applicable Governing Documents. Depending on the insurance carrier, an Homeowner may be required to change their property insurance coverage to a commercial or other type of business policy as dictated by such Homeowner's individual insurance carrier. Neither the Association, nor the General Manager, may advise you on such matters.

Voting Rights

No Lessee shall have any voting rights in the Association or the right to attend any meeting held by the Association.