Dallas Cohousing

Jasmine Vase   

Rental policy (1st Draft)

 

 

It is unhelpful for the community to have vacant homes.  


Our legal structure will probably be a Condominium .


The percentage of rentals affects the ability to obtain individual mortgages.

Allow only that percent of the Units to be rented at a time, where the Mortgage Companies will still make loans (15%?  49%?).

Create a rental policy with the goal of long term residents.  


The initial Lease could only be for a 2 year Term.


To extend the Lease longer, the Membership MUST approve;


     with the caveat that they can NOT turn down an extension IF:


     •     The Tenant is fully participating in the Cohousing process;


    
•     The extension is a “Lease- to- own” contract, with a conversion to a purchase contract within ____(?) years

 
If they are NOT fully participating in the Cohousing Community - extend them for month-to-month until you can REPLACE them.