When you lease a unit at Olde Ivy, you must abide by the governing documents. These documents contain important information about life at Olde Ivy, including rules and regulations that apply to all residents, whether owner or renter. Since landlords are responsible for their tenants, they should make sure their tenants understand and abide by the covenants.
IMPORTANT: Please be aware that the Olde Ivy covenants restrict leasing to a specific percentage of units in each of the three sub-association neighborhoods. It is the responsibility of the owner to get permission in advance from the relevant sub-association Board Of Directors to insure that a lease falls under the cap and is therefore acceptable to the Board.
More detailed leasing information can be found in the governing documents located in our DOCUMENTS section.
Leasing in the Manor
Generally, owners wishing to lease their units should be aware of the following:
- The owner must request a leasing permit from the Property Manager.
- The sub-association Board will not grant a lease permit to any owner who is delinquent on their association dues, special assessment or water bill.
- If the request is granted, the owner must supply documentation of background and credit checks on the prospective tenant to the Property Manager for review by the Board.
- If an owner is currently leasing their unit and the current tenant will not be renewing the lease, that owner must request and be granted a NEW lease permit. If the number of units currently leased happens to have reached the limit mandated by the covenants, the owner must join the waiting list for a new lease permit.