A condominium is one of a group of housing units where each homeowner owns their individual unit space, and all the dwelling share ownership of areas of common use. The individual units normally share walls, but that isn't a requirement. The main difference in condos and regular single homes is that there is no individual ownership of a plot of land. All the land in the condominium project is owned in common by all the homeowners. Usually, the exterior maintenance is paid for out of homeowner dues collected and managed under strict rules. The exterior walls and roof are insured by the condominium association, while all interior walls and items are insured by the homeowner.
Condominium Lease Agreement Form
Category:
State:
North Carolina
Control #:
NC-02300BG
Format:
Word;
Rich Text
Instant download
Description
Free preview
How to fill out North Carolina Condominium Lease Agreement With Option To Purchase And Rent Payments To Apply To Purchase Price - Rent To Own - Condo Rental?
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FAQ
It's good practice for a written tenancy agreement to include the following details:your name and your landlord's name and the address of the property which is being let.the date the tenancy began.details of whether other people are allowed the use of the property and, if so, which rooms.More items...
By leasing your property you grant substantial legal rights to your tenant, therefore it is essential that you have your tenancy agreement prepared professionally. The law can be complicated so it's important to get the best advice you can. Solicitors are the experts when it comes to the law and how it affects you.
These types of tenancy agreements are most commonly used by private landlords who are choosing to forgo using a letting agent or property management firm. People can even draw up their own tenancy agreements based on the free downloadable templates available on the internet.
It lets you live in a property as long as you pay rent and follow the rules. It also sets out the legal terms and conditions of your tenancy. It can be written down or oral (a spoken agreement).
When writing your own renters agreement you are able to include your own classes, such as tenants aren't allowed to have pets. However, these added clauses must be in line with both the landlord's and tenants' rights and if they infringe on these rights then they are void and can't stand up in a court of law.