What You Should Know About Leasing a Condo

Renting a unit in a condominium building is slightly different from renting a unit in an apartment building. Here are some key things that tenants should know about renting a condo.

You May Have to Do Two Applications

After a unit owner decides to take you on as a tenant, the condo association must also approve you or occupancy. Some owners may wholly delegate the application process to the association or a management company.

The Management Company Probably Does Not Handle Maintenance Requests

Condo associations are typically not responsible for repair issues inside of units. In a professionally managed apartment building, renters usually call a manager or super for help. In contrast, if you have a problem in a condo that you are renting such as a broken air conditioner or a plumbing issue, you would need to call the owner for assistance.

Your Lease May Incorporate the Association’s Occupancy Rules

Condo buildings generally have rules and restrictive covenants regulating how owners may use their units. A lease may have a clause that incorporates an association’s rules.

Ultimately, renters who are interested in leasing a unit in a condo should find out about important logistical matters such as lease terms, occupancy matters, and property maintenance. Getting clarity before entering into an agreement can help both lessees and lessors avoid surprises.