Board Passes New ‘Rental’ Rules
IMPORTANT INFORMATION FOR LAKE WILDWOODOWNERS WHO RENT OUT THEIR HOME
Please be advised of the following:It is the Rental Owner’s responsibility to adhere to all LWA rules regarding rentals. The Rental Owner is also responsible for their Tenants’ compliance with LWA Governing Documents (see Administration Rules 1.20.30 and 1.40.20 available at http://www.lwwa.org).
•Owners who rent out a home will be charged a non-refundable $100 administrative fee each time the home is rented to a new tenant. The Rental Owner fee is charged to cover the administrative costs of tenant registrations. Rental Owners must also maintain a $500 deposit. The Rental Owner deposit is transferrable from one tenancy to another and, provided there are no outstanding Tenant Fines, is refundable when the Owner no longer wishes to rent out their home.
Any outstanding Tenant fees exceeding the Tenant’s $200deposit will be paid using the Rental Owner’s deposit.
PLEASE NOTE: OWNER FEES OF $600 ($500 REFUNDABLE OWNER DEPOSIT AND $100 NON-REFUNDABLE ADMINISTRATION FEE) MUST BE PAID PRIOR TO TENANT ORIENTATION.
REFUNDABLE TENANT DEPOSIT IS DUE AT TENANT ORIENTATION.
** CHECK OR CASH ONLY**
Prior to Tenant move-in day, Owners must provide Lake Wildwood Association with a copy of the lease or rental agreement, with ALL Tenants listed. •Within three days of move-in,New Tenants need to make an appointment with Administration in order to go through orientation and pay the appropriate fees.Even if a rental management company is used, it is still theresponsibility of the Rental Owner to ensure that new Tenants are informed of LWA Rules, and that the $200 Tenant deposit is due at thetime of orientation.If, at the end of tenancy, there are no outstanding fines or fees due to the Association, the Tenant deposit of $200 is refundable. Note: Tenants must requesta refund. Please inform your tenants; any deposit not claimed within 30 calendar days after aTenant moves out of the residence for which the deposit was placed, will be forfeited and retained by the Association.Any Tenant moving to another residence within Lake Wildwood may transfer the Tenant deposit to the new residence providingthe Association is notified, by providing a copy of the lease for the new residence, within thirty (30) days. Please notify the Administration Office immediately when your tenants move out so their gate access passes, and vehicle decals may be deactivated.
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