A condominium lease is used to provide the terms of occupying the condominium and what the tenant and owner handle while the dwelling is occupied. Further requirements include start and end dates, the responsibility of each party as to fees and maintenance.
Leasing a condo is slightly different than leasing a house concerning maintenance of the premises. The outside of the property is normally off limits to change by the tenant since other tenants share “common areas” such as the entry hallways and grass and landscape areas.
Very low or no maintenance is very often the reason busy people prefer to rent a condominium as opposed to a single house. The opposite side of that argument is the burden of community type of living. The rules and regulations can be overwhelming for some renters.
Most condo projects are controlled by their Homeowner’s Association (HOA), which is usually made up of owners within the project. The homeowner’s association may manage themselves or what happens more frequently is to hire an outside management company.
Understanding your condominium lease is crucial to occupying a condo, and will erase any confusion about the expectations of the Homeowner’s Association, the owner, and other tenants. It is important for the tenant’s happiness while renting to know what is expected of them. Therefore, always have a condominium lease in place and review it thoroughly.