Why this matters:
This amendment helps maintain a strong, stable community by balancing homeowner occupancy with limited leasing, while ensuring that any additional administrative costs related to leasing are handled fairly and transparently. These measures support property values and long-term neighborhood quality.
To help preserve the residential character of the community, promote long-term homeownership, and protect property values, leasing within the Association will be reasonably managed as follows:
1. Balanced Rental Cap
The total number of homes leased at any time shall not exceed ten percent (10%) of the total Lots in the Association, rounded down to the nearest whole number (currently six (6) homes). This ensures a balanced and stable neighborhood.
2. Respect for Existing Leases
Any home subject to a valid written lease at the time this amendment is adopted may continue leasing through the end of that lease term. This provides a fair and orderly transition.
3. Long-Term Leasing Standard
All leases must be for an initial term of not less than twelve (12) consecutive months. Short-term or vacation rentals are not permitted, supporting a consistent residential environment.
4. Leasing Administration and Fair Cost Allocation
To ensure that the administrative and compliance costs associated with leasing are handled fairly, the Association may establish a reasonable leasing administrative fee applicable only to leased Lots.
This fee is intended solely to offset costs related to:
o Lease review and recordkeeping
o Compliance monitoring
o Communication and enforcement efforts
Any such fee shall be set at a reasonable level and applied uniformly to all leased Lots.
5. Simple and Transparent Administration
The Board of Directors may adopt reasonable procedures to implement this Section, including:
o A fair leasing permit or waitlist system
o Submission of basic lease documentation
o Rules to ensure consistent and transparent application
6. Consistent Enforcement
Leases that do not comply with these requirements may be addressed by the Association
in accordance with the governing documents and applicable law.