THE VIRGINIAN-PILOT
Copyright (c) 1994, Landmark Communications, Inc.
DATE: Saturday, August 6, 1994 TAG: 9408040481
SECTION: REAL ESTATE WEEKLY PAGE: 08 EDITION: FINAL
COLUMN: COMMON GROUND
SOURCE: G. ROBERT KIRKLAND and MICHAEL INMAN
LENGTH: Medium: 72 lines
Q. We are being transferred out of the area and would like to lease our oceanfront condominium while we're gone. How can we make sure our tenants do not cause problems for the neighbors? Can we lease the unit for less than a year?
A. To answer your second question first: Yes, you can lease your condominium for less than a year, provided your condo association allows this. Some communities will allow residents to rent out their units weekly to take advantage of the tourist season.
By contrast, some communities restrict residents to one-year leases. Check with the association manager to find out the applicable rules.
As for your first question, condo tenants can cause a range of problems - from starting fires to destroying the unit's interior.
On one occasion, an owner thought he was leasing his unit to a young couple. He later discovered nine people living in the two-bedroom unit.
To avoid such surprises, condo owners need to keep in mind a few things.
First, owners are responsible for their tenant's conduct. If the tenant breaks a rule, the association will fine the owner, not the tenant.
Also, owners who expect to return to their unit should let the association and their neighbors know where to reach them in case of problems.
Finally, owners should rent only with a written lease and a collect a security deposit against damages.
A good condo lease should:
Include the association's rules and regulations.
State that a breach of the association rules is also a breach of the lease. This allows owners to evict tenants who break the association rules even though they pay the rent on time.
Make the condo fee part of the rent if the tenant is going to be responsible for paying it. If the tenant fails to pay the condo fee, the association will take a judgment against the owner.
State that the association may act on the owner's behalf, if he or she cannot be reached, on matters concerning the tenant.
Make sure there is no pet provision in the lease.
Require that only those who sign the lease may live in the unit.
Require the tenant to maintain only a set number and type of vehicles if parking is limited.
Require the tenant to carry a renter's insurance policy. The tenant should provide the owner with a copy stating that the owner is additionally insured on the policy.
Such insurance will protect owners if the tenant damages the unit. It will also cover owners should the tenant damage the unit's exterior or common areas.
Some associations may keep an approved lease with all the provisions described above. Contact your complex manager for details.
Another option is to hire a management company to handle the leasing while you are gone. Check with other owners for recommendations.
Leasing a condo is never an easy task. Owners should screen potential tenants carefully and include a credit check if possible.
By carefully choosing the right tenant, owners can benefit not only themselves, but other residents in the community as well. MEMO: G. Robert Kirkland, president of a Virginia Beach property-management
consulting firm, and attorney Michael A. Inman specialize in Virginia
community-association issues and are affiliated with the Southeastern
Virginia chapter of Community Associations Institute. Send comments and
questions to them at Real Estate Weekly, 150 W. Brambleton Ave.,
Norfolk, Va. 23510. To submit questions by phone, call 446-2033; fax:
446-2531.
by CNB