Seaview Village Rental Restriction Provisions

IMPORTANT NOTICE TO ALL PROSPECTIVE HOME BUYERS

Like many other senior communities in the area, Seaview Village is a rent restricted HOA. Please be advised that if you are contemplating the purchase of a home in Seaview Village for the purpose of renting out that property, it is not currently permissible as we are currently at our maximum allowable rental quota.

Seaview Village is a rent restricted community. Following is a summary of our rental restriction provisions. To see the exact wording of our Rental Restriction document, go to Amendment 2 of our By Laws.

1) No homeowner may rent out a property that was purchased or transferred to them within the last 24 months.

2) No more than 12 percent (12%) of the properties in Seaview Village may be leased or rented out at any given time to a Third Party.

3) Tenants and owners must abide by all Covenants, Conditions, Restrictions, Bylaws, Amendments, Rules, Regulations, and Articles of Incorporation of Seaview Village Association.

4) No property may be rented out for a period of less than 12 months.

5) Prior to leasing or renting out a property, permission to lease or rent out the property must be obtained from the board of trustees.

6) Prior to leasing or renting out a property, a copy of the lease or rental agreement must be submitted to and approved by the board of trustees.

7) Prior to leasing or renting out a property, proof of identity of the lessee (or renter) along with the current address and phone numbers of both the owner and lessee (or renter) must be submitted to and approved by the board of trustees.

8) Seaview Village Association will impose a fee on the owner of the property in the amount of $100 before new renters can occupy a dwelling.

9) Seaview Village Association may impose a fee (or fine) of $500 per day per occurrence for violations of any of the items contained in the Seaview Village Rental Restriction Provision.

10) The board of trustees of Seaview Village Association reserves the right to make changes and grant exceptions to any and all items contained in this Rental Restriction Provision.

This rental restriction provision takes precedence over any inconsistent language in the Covenants, Conditions, Restrictions, Bylaws, Amendments, Rules, Regulations, and Articles of Incorporation of Seaview Village Association.



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