In an apartment or co-op building, your neighbors are also members of your homeowner community. Unlike neighbors in detached houses, neighbors in your apartment often have the legal authority to limit the use of your unit. For example, you may be prohibited from creating a home in your home without the prior approval of the board of directors. Similarly, it is completely legal for the members of a condominium to accept that no owner sells his unit without notifying the association and without allowing other members to buy the unit. Below is an example agreement that addresses this issue. Its provisions may be limited by laws in your country, so check with your lawyer when drafting such an agreement. Sign a lease – Once you have approved your tenant, you must receive the rental terms in writing using a Condo lease form. You can enter in the form the conditions of the rental contract, the amount of the rental, the deposit, parking, incidentals, pets, etc. All parties must sign and date the agreement for it to be valid. A condo rental agreement (condominium) is a form signed between the owner of a residential unit in a condominium and which rents space to a consenting tenant. The person(s) who decide to rent the space are required to abide by the rules and regulations of the association and should have all rights to use any of the establishments and public spaces and to have all other privileges of the Community (unless otherwise specified in the agreement). The owner and tenant of the condominium have the same rental and rental rights, as if the property were another type of housing unit, and once they are signed, the document becomes legally binding on both parties. A condo, abbreviated condominium, is a unit of ownership among other similar entities that share the rights to the common parts of the property.
Most of the skyscrapers you see in cities are condos. Each owner inside the condominium pays an “association tax” used for the maintenance of the property and the salaries of the people employed by the association (bouncers, cleaning agents, etc.). Check with your homeowner community – A homeowners` community is not only responsible for the day-to-day operation of the property, but also sets out the rules that condominium owners must follow if leasing is allowed. To go further, some associations even ask for an interview with the tenant for approval. The tenant may need to be registered with the association/administrative office if they need security cards or fingerprints to access public spaces. The owner of the unit _______________________Date__