Rental Requirements – Reminder

As we approach the summer, some of you may be considering leasing your unit. Please be sure to consider the below rules from the Aria Project Handbook pertaining to the RENTAL OF CONDOMINIUMS (heavy fines apply for noncompliance!):

1. Rental. An Owner is entitled to rent their Condominium for a term of not less than thirty (30) days. The Owner shall be responsible for all actions of the tenant and shall comply with the following guidelines.
   
2. Written Lease or Rental Agreement. Any rental or leasing agreement shall be in writing, shall provide that the lease or rental is subject to the Governing Documents and shall provide that any failure to comply with any provision of the Declaration or the Governing Documents shall be a default under the terms of the lease agreement. A copy of any lease agreement shall be provided to the Association.
   
3. Compliance with Governing Documents. A copy of the Governing Documents, including this Project Handbook shall be provided by the Owner to each tenant. The leasing Owner is responsible for its tenant’s compliance with all of the provisions of the Declaration and Project Handbook pursuant to the occupancy and use of the Condominium at all times.
   
4. Property Manager Notification. All Owners who rent their Condominiums must notify the Property Manager within seven (7) days of signing a lease agreement. At the time of notification, such Owner will be provided a “Lease Acknowledgement Form” to certify (i) that such Owner acknowledges and accepts he/she remains responsible for its tenant’s compliance with the terms of this Project Handbook and all other Governing Documents pursuant to the occupancy and use of the Condominium; and (ii) that the lease or rental agreement complies with all the requirements set forth in this section. The Lease Acknowledgment Form must be filled out and signed by the leasing Owner and all its tenants.
   
5. Association Amenities. Except to the extent reasonably necessary to enforce its rights under a rental or lease agreement, an Owner shall have no personal privileges to use the Association Property, including all the recreational amenities at ARIA. Each leasing Owner’s rights to use the amenities at the Project transfer to the tenant during the entire term of a rental or lease agreement. However, a leasing Owner retains limited rights to access into the Common Area to the extent necessary to enforce the terms of its rental or lease agreement.
   
6. Insurance. All Owners should ensure their tenants maintain the appropriate renter’s insurance in sufficient amounts to cover the cost of replacement of all such tenants’ personal property and liability at the Project during the entire term of their respective lease agreements. Since each insurance carrier may vary in policy, it is each Owner’s responsibility to obtain the appropriate type of insurance for such Owner’s Condominium while it is leased and that the form of such insurance, including all coverage amounts, complies with such Owner’s obligations under the applicable Governing Documents. Depending on the insurance carrier, an Owner may be required to change their property insurance coverage to a commercial or other type of business policy as dictated by such Owner’s individual insurance carrier. Neither the Association, nor the Property Manager, may advise you on such matters.
   
7. No Hotel, etc. No Condominium may be rented for hotel, motel or transient purposes or for any other purpose inconsistent with the Declaration.
   
8.   Advertisement of Units for Rent. Owners may advertise their Condominium for rent or lease to the general public provided that the advertisement is not in violation of the minimum rental terms set forth in this Project Handbook and the Declaration. Any advertisement of any kind that is in violation of the minimum rental terms, shall be subject to an immediate fine in the amount of $5,000.00. The Owner in violation shall be notified by the Association of the violation and fine in writing, the fine shall be applied immediately to the Owner’s Association account, and the Owner shall be offered the opportunity to attend a hearing before the Board to contest the fine. If the offending advertisement is not removed by the Owner within seven (7) days from the date of written notification from the Board, another fine in the amount of $5,000.00 shall be immediately applied to the Owner’s Association account. These fines shall continue to be levied on a weekly basis for so long as the offending advertisement remains in place.

9.     Tenants Move-Ins/Move-Outs.  All homeowners and tenants must schedule an orientation with management prior to reserving a moving date with the Association.  All moves need to be done in strict conformance with the move-in/move-out and delivery procedures set forth herein.