Each year many families are faced with the need to relocate either temporarily or permanently. The question arises: “What shall we do with our home? Do we have to sell, or can we rent it?”
Renters come under the same rules and regulations as each homeowner and accordingly, have the same privileges and use of shared property. The tenant MUST be made aware of his or her responsibilities and it behooves the homeowner to define these terms in a clearly drawn lease. A copy of the association rules MUST be provided to your tenant and made part of your lease.
Once a homeowner has leased their unit, they are required to provide the following to the association’s management office, within fourteen days:
- Copy of executed lease
- Copy of executed Standard Rider To All Leases Entered Into Between Unit Owners and Lessees
- Copy of Mahwah Township’s smoke detector certification
- $100.00 rental agreement processing fee (first-time rental fee $125.00), which will be accessed to your account. This fee applies when you have obtained a new tenant or are extending the lease of your current tenant.
- Copy of completed Census Form for each lease or tenancy.
The master deed of the association contains certain restrictions regarding rented units and you should review these and/or call Community Management for assistance.
Remember, it is your property and your standing in the association that is at stake.