A unit may be rented but only in its entirety.  No owner or renter is allowed to rent out just a portion of the unit.  All rentals must be by leases

            which shall be on forms approved or provided by the Association and shall provide that the Association shall have the right to terminate the

            lease upon default by the tenant in observing any of the provisions of these RULES AND REGULATIONS, the CONDOMINIUM

            DECLARATIONS, the ARTICLES OF INCORPORATION, the BY-LAWS of the Association, or other applicable provisions of any

            agreement, document or instrument governing the Condominium or administered by the Association.  The Association shall be advised of

            any lease and shall receive a copy thereof.  Unit owners wishing to lease their units shall be required to place in escrow with the Association

            a sum to be determined by the Association which may be used by the Association to repair any damage to the common elements resulting

            from acts or omissions of tenants (as determined at the sole discretion of the Association).  The unit owner will be jointly and severally liable

            with the tenant to the Association for any amount in excess of such sum which is required by the Association to make such repairs or to pay

            any claim for injury or damage to property caused by the negligence of the tenant.  In addition, all leases shall comply with and be subject

            to the provisions of Section Seventeen (17) of the DECLARATION OF PROMENADES EAST, A CONDOMINIUM, with which all

            unit owners should be familiar.    No unit owner may rent their unit if they are delinquent in payment of their monthly or any special assessments.

 

            RENTAL POLICY PROCEDURES:

            Before a tenant may move into a unit at Promenades East Condominiums:

 

            --all forms will be filled out and returned to the office with the application fee(s)

            --been interviewed by a member of the Board of Directors or their designee

--provided to the manager a copy of the signed lease which is on an approved form

--scheduled move-in time with the manager

--escrow payment of $500.00 must be made to cover damages to common elements

           

            The owner wishing to rent their units must make and maintain a damage deposit of $500.00 covering the common elements of the building. 

            A record of activity on this account will be kept by the manager.  The owner will be assessed an association administrative charge of $50

            per move (in or out). This charge will be subtracted from the deposit on record, but additional monies will be needed to maintain the

            original balance.  See section 16.7 of your condominium documents.

 

 

Q:         How much are my assessments to the condominium association for my unit type and when are they due:

A:         As of 1/1/2021

            One Bedroom with one bath                          $224.67                      Due on the first of each month

            One Bedroom with Foyer & one bath           $250.57                      Due on the first of each month

            Two Bedrooms with two baths                       $280.23                      Due on the first of each month

            Three Bedrooms with two baths                    $382.75                      Due on the first of each month

 

            Percentage shares of common elements, common expenses, and common surplus:

            One Bedroom with one bath                           .5696

            One Bedroom with Foyer & one bath            .6353

            Two Bedrooms with two baths                       .7105

            Three Bedrooms with two baths                    .9704

 

Q:         Do I have to be a member in any other association?  If so, what is the name of the association and what are my voting rights in this association?  Also, how much are my assessments?

A:         No

 

Q:         Am I required to pay rent or land use fees for recreational or other commonly used facilities?  If so, how much am I obligated to pay annually?

A:         No

 

Q:         Is the condominium association or other mandatory membership association involved in any court cased in which it may face liability in excess of $100,000?  If so, identify each such case.

A:         No