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A condominium lease agreement is a rental contract where a landlord rents a condo to a tenant for a set period. Unlike apartments, condos may have specific rules from the homeowner’s association (HOA), such as requiring a separate tenant application, age limits, or pet bans.
Rental Application – The landlord can request a rental application from the tenant to verify the financial credentials and employment history. Once approved, both parties can sign the lease.
Common Bylaw Rules (6)
- Tenant Approval: The tenant must be approved by the condo association before occupancy.
- Association Fees: State who is responsible for paying condo fees.
- Common Areas: Rules for shared spaces such as gyms, pools, and meeting rooms.
- Guest Policy: Limits on the number of guests and their length of stay.
- Moving Rules: Guidelines for move-in and move-out times and days (e.g., no moving on Sundays).
- Smoking Policy: Smoking is prohibited indoors and in shared outdoor areas.