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.
Residential Lease Agreement With Utilities Included
Category:
State:
North Carolina
Control #:
NC-02300BG
Format:
Word;
Rich Text
Instant download
Description
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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
1. Written notice must be given to the tenant at least 30 days before the landlord begins to charge the tenant a portion of the cost of the utility. 2. The notice must state the amount of the rent reduction for the rental unit and the effective date of the reduction.
Yes. At the beginning of a tenancy, landlords may collect a deposit in the form of cash or property to cover costs such as damage to the unit, unpaid rent, cleaning that goes beyond normal wear and tear, and any other agreed-upon fees ? such as legal fees, utilities, or late rent fees.
Yes, the Ontario Standard lease is mandatory for landlords. All residential tenancies in the private rental market that started on or after April 30, 2018, are required to have the lease. There are a few places where it is not used, like: Care homes and mobile home spots.
Drafting a tenancy agreement date of agreement. names and addresses of all parties. address or description of the location of the residential premises. term of the tenancy. rent amount, where, when and how it is to be paid. clauses about whether utilities, furniture, appliances, parking, etc.
If a landlord fails to use the standard lease for tenancies that begin on or after April 30, renters can ask for one. If the landlord fails to provide one in 21 days, the tenant can withhold rent for a month.