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RENTAL UNIT APPLICATION FORMS

Restricting the number of rentals in homeowner associations is often desirable to protect mortgage financing options. When the number of rentals exceeds about one third of the total, some lenders restrict lending because the character of the community is changing from owner occupied to investment property. Investment property loans are higher risk and investors are historically less willing to invest money in maintenance and repairs. This jeopardizes a lender's collateral and increases the odds of loan default.

Any owner who wishes to have their unit occupied by one or more persons other than the owner(s) or immediate family [defined as the child(ren) or parent(s) of the owner(s)] shall submit an Application for Non-Owner Occupancy to the management agent for Board approval along with a copy of the lease dated and signed by the proposed tenant(s). The application must include all of the forms attached below and upon each new lease or lease renewal, a new application must be submitted with updated application. 

As of 4/27/2023 - The rental cap of 21 units has been met and there is a waiting list. No units currently listed for sale may be sold as investment properties.
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