8/21/2019 Free Condominium (Condo) Lease Agreement Template - PDF | Word | eForms – Free Fillable Forms

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Condominium (Condo) Lease Agreement Template

Condominium (Condo) Lease Agreement Template

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A Condo (Condominium) Lease Agreement is a form that is signed between the owner of a residential unit
located in a condominium association and rents out the space to a willing tenant. The individual(s) that decide
to lease the space will be obligated to uphold the rules and regulations of the association and they should have
all rights to use any of the facilities, common areas, and have any other privileges of the community (unless
otherwise stated in the agreement). The condominium owner and lessee shall hold the same landlord and
tenant rights as if the property were any other type of residential unit and once signed, the document becomes
legally binding to both parties.

A Condominium Lease Agreement is also referred to as the following:

Condo Lease
Condo Rental Form

What is a Condo?
A Condo (Condominium) is a unit of property amongst other similar units that share the rights to the
property’s common areas. Most residential high rises you see in cities are condos. Each owner within the
condominium pays an “association” fee which goes towards the maintenance of the property and salaries of
those employed by the association (Doormen, cleaners, etc.).

How to Rent a Condo

Know your state’s rental laws – Once you decide to turn your condo into a rental, you become a landlord
which means you need to familiarize yourself with the landlord-tenant laws of your state. For example – the city
of Boston in the state of Massachusetts requires rental owners to register their property with the city each year.
Failure to do so will result in major fees and possible legal implications. What is the maximum I can charge for a
security deposit? How much can I charge for a rental application fee? These are the type of questions you will
need to seek and find answers to in order to successfully rent your property and stay out of legal trouble.

Check with your condominium association – Not only is a condominium association responsible for the
property’s day-to-day operations, it lays out the rules that condo owners must abide by including if leasing is
allowed. To take it a step further, some associations even require an interview of the lessee for approval. The
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8/21/2019
tenant may Free Condominium
have to be registered with the(Condo) Lease Agreement Template - PDF
association/management | Word
office | eForms
if they – Free
need Fillable Forms
security passes or
fingerprinting in order to access common areas.

Screen potential tenants – If you are new to being a landlord, it’s important to know about the Fair Housing
Act which protects tenants from landlord discrimination against race, color, natural origin, sex, handicap,
religion, or familial status. A good way to avoid discrimination is to setup a screening process which is the same
for every prospective tenant. It is recommended to require all prospective tenants to fill out a Rental Application
(https://eforms.com/rental/application/) which will allow you to perform a credit, criminal and background check.

Sign a lease agreement – Once you have approved your tenant, you need to get the lease terms in writing by
using a Condo Lease Agreement (https://eforms.com/download/2016/03/condominium-lease-agreement-
template.pdf) form. The form will let you enter the terms of the lease, rent amount, security deposit, parking,
utilities, pets etc. All parties must sign and date the agreement in order for it to be valid.

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