Long-Term Rentals

Purpose:

The purpose of this policy is to establish guidelines and regulations for long-term rentals within the [Condominium Name] to ensure a harmonious living environment for all residents, while also respecting the rights of owners to rent their units.

Definitions:

  • Long-Term Rental: A rental agreement with a duration of [Number] months or longer, as defined by the Residential Tenancy Act of British Columbia.

  • Owner: A person who holds title to a strata lot within the condominium.

  • Tenant: A person who rents a strata lot from an owner under a tenancy agreement.

Policy Guidelines:

  1. Rental Registration:

    • Owners must register each long-term rental unit with the Strata Corporation, providing tenant contact information and lease terms.

    • A one-time registration fee of $[Amount] may be required to cover administrative costs.

  2. Rental Restrictions:

    • A maximum of [Percentage]% of units within the condominium may be designated for long-term rentals at any given time.

    • No restrictions on the number of units an individual owner can rent, as long as the overall rental cap is not exceeded.

  3. Tenant Screening:

    • Owners are encouraged to conduct thorough tenant screening, including reference checks and credit history reviews.

    • Owners are responsible for ensuring that their tenants comply with the condominium's bylaws and rules.

  4. Bylaw Compliance:

    • Tenants must comply with all condominium bylaws, rules, and regulations, just as owners do.

    • Non-compliance by tenants may result in fines or other penalties levied against the owner.

  5. Dispute Resolution:

    • Any disputes between owners and tenants should be resolved through the Residential Tenancy Branch.

    • The Strata Corporation may intervene in disputes that affect the condominium community as a whole.

  6. Move-In and Move-Out Procedures:

    • Owners must inform the Strata Corporation of tenant move-in and move-out dates to facilitate access and communication.

  7. Review and Amendment:

    • This policy will be reviewed by the Strata Council every [Number] years to ensure its continued relevance and effectiveness.

    • Amendments to this policy may be proposed by the Strata Council or by a petition signed by [Percentage]% of owners.

Enforcement:

  • The Strata Corporation will enforce this policy through communication, education, and, if necessary, the imposition of fines or legal action.

Additional Considerations (Optional):

  • Insurance: Owners should ensure that their rental units are adequately insured.

  • Maintenance: Owners are responsible for the maintenance of their rental units.

  • Parking: The availability of parking for tenants should be addressed in the rental agreement.

  • Pets: The condominium's existing pet policy applies to tenants as well.

  • Short-Term Rentals: This policy does not apply to short-term rentals, which are governed by separate regulations.