Please find below the Terms & Conditions for Leasing a home at The Cascades governed by The Cascades documents.
(Effective: May 2015)
- Term – No lease may be made for any Unit for less than six (6) months and one (1) day, and all leases must be in writing and approved in writing by the Association. No Owner shall be entitled to lease his or her Unit mote.than one (1) time per calendar year.
- Extension and Renewal of Leases – No renewal or extension of existing lease for any Unit may be made for less than six (6) months and one (1) day, and must be in writing and approved in writing by the Association.
- Subleasing or Assignment – There shall be no subleasing of Units or assignment of lease, unless prior written approval is obtained from the Association. Units may be rented only in their entirety; no fraction or portion of a Unit may be rented.
- Waiting Period – Except as otherwise provided under this Section BB, no Owner who purchases a Unit or otherwise acquires title to a Unit after the effective date of this amendment shall be entitled to lease his or her Unit until such Owner has owned the Unit for a period of twenty-four (24) months.
The twenty-four (24) month period shall commence upon the date title was acquired. The twenty-four (24) month waiting period under this sub-section 4 shall not apply where:
- Title to the Unit is transferred to a trustee and the trustee is the same Owner or a member of the existing Owner’s family or otherwise transferred for estate planning purposes, or
- Title to the Unit is transferred to the Owner’s spouse or to a family member by inheritance, devise, or bequest, or
- Title to the Unit is transferred to the Association.
- Approval by Association – The Association shall have the authority to require, as a condition of lease approval, the payment to the Association of an application fee of Two Hundred ($200.00) Dollars per applicant, or such other amount as is determined by the Board of Directors from time to time .