What is a rental cap?

A rental cap is a mechanism put in place to limit the number or percentage of units that may be rented at any one time in a community.

What kind of homes can you lease in a land lease community?

Some popular options include condos, townhomes, attached villas and single-family homes. Retirees who decide to relocate to a community with manufactured homes may also have the option of leasing the land instead of buying their own lot. What Is a Land-Lease Community?

What are the rules for a land lease?

A land lease is a formal contract, relating to real property, that is governed by state law. Every land lease is subject to negotiation and bargaining, and therefore is a little different from any other land lease. However, some general rules apply to all land leases and all state laws regarding land leases.

What should parking restrictions be in a lease agreement?

Parking restrictions/rules – if the property has parking or offers parking in a designated spot, those terms should be listed in the lease agreement.

When do landlords change the rules in a lease?

Landlords can implement rule changes when a tenant’s lease agreement expires. In other words, landlords should notify the tenant of the upcoming change well before it’s time to renew the lease agreement so the tenant will know of the change before signing the new lease.

Some popular options include condos, townhomes, attached villas and single-family homes. Retirees who decide to relocate to a community with manufactured homes may also have the option of leasing the land instead of buying their own lot. What Is a Land-Lease Community?

What can you not include in a residential lease?

These privileges include but aren’t limited to access to parking, property-wide laundry, exercise rooms, or pools. Banning or preventing certain tenants from using these facilities could open you up to a discrimination suit under the federal Fair Housing Act and the Fair Housing Amendment Acts.

Who are the parties to a lease agreement?

Parties to the lease – the lease agreement should name the landlords and tenants who are bound by the agreement. Description of the property – the lease agreement should have a description of the property controlled by the lease agreement.

Parking restrictions/rules – if the property has parking or offers parking in a designated spot, those terms should be listed in the lease agreement.