Leasing/Rental Policy

Flowers Field, is a residential Homeowners Association consisting of thirty (48) homes.

No transient tenants may be accommodated in any Unit, and no lease shall be for less than a whole Unit, nor for an initial term of less than one (1) year.  Each lease shall be in writing and shall provide that the terms of the lease shall be subject in all respects to the provisions of the Act, this Declaration, the Bylaws and the rules and regulations of the Association and that any failure by the lessee to comply with the terms of such documents shall be an event of default under the lease.

The Association shall be a third-party beneficiary of such covenants in any lease and shall have the right to enforce them.

A Unit Owner shall provide the Executive Board with the name of the tenant and such other information as the Executive Board may reasonably require within ten (10) days after leasing his Unit.  In the event the Owner shall fail to pay any charge or Assessment levied by the Executive Board against a leased Unit, and this failure to pay continues for sixty (60) days, the Executive Board shall have the right, after first giving the Owner written notice, sent by certified mail, return receipt requested, that the Executive Board intends to so proceed, to notify the lessee of the Unit in writing of the amount(s) due and, within fifteen (15) days after the date of the notice, the lessee shall pay to the Association the amount(s) of all unpaid charges or Assessments.  …  The amount … paid by the lessee … shall be credited against … the next monthly rental installment due to the Owners.

WHEREAS the Declaration specifically empowers the Executive Board to adopt and amend rules and regulations, following a public hearing of which due notice has been provided.

WHEREAS circumstances have arisen wherein Units are increasingly becoming non-owner occupied.  To prevent the unregulated leasing of Units from having a negative impact of the Association, the Executive Board desires to implement reasonable Rules and Regulations concerning the rental/leasing of Units.  It is the intent of the Executive Board to:

  • Ensure that all members of the Association enjoy the full privileges of residing in Stone Ridge Condominium.
  • Increase the number of homes that are owner-occupied resulting in a more stable and enjoyable living environment.
  • Inform all tenants residing within the Association of the restrictions, conditions, rules, and regulations of the Association.
  • Reinforce the ability of potential homeowners to secure mortgage financing by encouraging a high percentage of owner-occupied units.
  • To reduce the negative effect rental housing may have upon the enforcement powers of the Board and home values in the Association.

BE IT THEREFORE RESOLVED that the Executive Board, acting in the best interest of the Association adopts the following rental/leasing policy:

  1. Each Unit Owner intending to lease his/her Unit, must submit a copy of the lease (including an executed copy of the attached lease addendum) to the Association within ten (10) days after leasing his/her Unit.
  2. No transient tenants may be accommodated in any Unit, and no lease shall be for less than a whole Unit, nor for an initial term of less than one (1) year, nor shall any Unit be used or leased for any commercial, such as Air BnB, industrial or recreational purpose.
  3. In the event a lease is broken or terminated prior to the expiration of the one (1) year lease term, then that Unit may not again be leased or rented until the expiration of the one (1) year lease term.
  4. All leases shall contain a lease addendum (Lease Addendum), specifically containing, inter alia, the following:
    • The terms and conditions of the lease may not be modified, amended, or extended or assigned without notice to the Association.
    • No Unit may be sublet in whole or in part.
    • All tenants and guests shall strictly adhere to, conform to, and be bound by, and the lease (including the Lease Addendum) shall be subject to the provisions of the Declaration, the Bylaws, and Rules and Regulations of the Association, as they may be amended from time to time.
    • All tenants must acknowledge receipt of a copy of the Declaration, Bylaws, and Rules and Regulations and must adhere to them. A copy of the acknowledgment needs to be filed with the management company.
    • Both the Unit Owner and the tenant shall be jointly and severally liable for the payment of all monthly assessments, including fines and attorney’s fees incurred by the Association in enforcing a violation of the Declaration, Bylaws and Rules and Regulations.
    • The Association is a third-party beneficiary to the lease and has the right to enforce the lease in the name of the Landlord in the event a breach of the lease or the lease rider occurs.
    • In the event an Owner fails to submit a copy of the lease (and Lease Addendum) to the Association within ten (10) days of occupancy, the Unit Owner and the tenant shall be subject for a fine in the amount of $50.00 for each day the Unit is occupied by the tenant without submission of a copy of the lease (and Lease Addendum) to the Association.
  5. In the event the Owner shall fail to pay any charge or Assessment levied by the Executive Board against a leased Unit, and this failure to pay continues for sixty (60) days, the Executive Board shall have the right, after first giving the Owner written notice, sent by certified mail, return receipt requested, that the Executive Board intends to so proceed, to notify the lessee of the Unit in writing of the amount(s) due and, within fifteen (15) days after the date of the notice, the lessee shall pay to the Association the amount(s) of all unpaid charges or Assessments. In no event shall the lessee be required to pay to the Association on account of unpaid charges or Assessments during any one month an amount more than the monthly rental installment payable by the lessee.  In no event shall the delivery of such notice from the Executive Board to the lessee or payment by the lessee of the sums due from the Owner to the Association give the lessee any right to default under the lease or otherwise fail to perform his obligations under the lease unless the specific provisions of the lease shall so provide.  The amount of unpaid charges or Assessments paid to the Association by the lessee after non-payment by the Owner shall be credited against and shall offset the next monthly rental installment due to the Owner following the payment by the lessee of the charges or Assessments to the Association.
  6. In addition to the right to institute violation procedures against the tenant and the Unit Owner for violations of the Declaration, the Bylaws and the Rules and Regulations, the Association, at its sole discretion, in addition to all other legal remedies, may file an eviction action on behalf of the Unit Owner / landlord against the tenant, for any violation of the Declaration, the Bylaws, and the Rules and Regulations. Prior to filing of an eviction action, the Association shall make demand on the Unit Owner to evict the tenant.  If proceedings to evict the tenant are not brought by the Unit Owner within sixty (60) days from the date of the Association’s demand on the Unit Owner, the Association shall be entitled to file such eviction action in the name of the Unit Owner as third-party beneficiary to the lease.
  7. All fines, costs and expenses incurred by the Association in enforcing this Rule and Regulation, including the filing of an eviction action, shall be the joint and several responsibilities of the tenant and Unit Owner, and shall constitute a lien on the Unit.