In order to preserve the character of the
Residential Units as predominantly owner-occupied, and to comply with the
eligibility requirements for financing in the secondary mortgage market,
leasing of Residential Units is regulated in our governing documents.
If a unit owner wishes to lease
their unit they must first obtain either a lease permit or a hardship lease
permit. A unit owner that holds either
of these permits allows them the right
to enter into a lease with a third party for the duration of the lease permit.
At Skypoint, the number of lease
permits are hard wired into our declaration at 25% or 95 units. Once a lease permit is obtained it is held by
the unit until either of the following occur: the unit is sold, the unit owner
moves back into the unit, the unit has not been rented for a consecutive 180
period, or if the unit failed to maintain a consecutive tenant for at least 180
days.
A unit that holds a lease permit
may enter into a lease with a third party ONLY if their dues are current and according
to the rules that were passed on 02.23.2011 no leased units shall be permitted
to keep a pet without board approval.
Also written into the
declaration is a provision for a hardship lease permit. The number of these permits is set by the
Board of Directors and can be any number from 0-75%. As of November 24, 2012 the hardship lease
permit percentage is set at 14% or 53 units.
The resulting total leased percentage rate of Skypoint is now at 39% or
148 total units.
When I was appointed to the
Board of Directors in May our hardship lease permit percentage was at 19% and
climbing. This resulted in 167 units
being leased (44%). This was the highest
rental percentage since Skypoint opened in 2007. At this rate, and factoring in lease turnover
of around 50% and new sales Skypoint was moving 100 units per year. When put in terms of wear and tear of the
building each move required a move out AND a move in which brings the number
closer to 200 moves per year or nearly 17 per month.
Instead of a peaceful place to
live Skypoint created an apartment like feel where competition for the service
elevator became fierce. Those of you
with pets that follow the rules and try and use the service elevator just simply
gave up and started using the residential elevators, because the freight
elevators were always locked out for moves.
If you were a unit owner and wanted to schedule a furniture delivery
often times it was nearly impossible without working a deal with the unit that
was moving to allow for the delivery.
This is our home and we have allowed it to become an apartment
building.
Each new unit occupancy in the
building requires a huge amount of manpower to process paperwork and to
facilitate access control activation/deactivation. I believe that our management team should not
have to spend all their time on the processing of expiring and new leases. Their time should be spent servicing the
current residents - unit owners and renters alike.
Time spent processing move in
and move out of renters is time that management does not have to process unit
alteration requests, to help with resident issues, or to provide a better
living experience for all unit owners and renters.
Then there is the pride in ownership
argument. Many of our summertime pool
complaints were about renters. I'm not
making this up, these are the facts. I
am sure that I am not unlike most other unit owners when I say that when I am
in the common areas I try and take care of those areas because ultimately the
unit owners will share in the cost to replace or fix any common item. Renters often (and the numbers back me up) do
not feel the same way.
Skypoint, unlike Element was never built to be an
apartment high rise. I purchased in Skypoint
to live with my wife and daughter. I
wanted to be surrounded by other unit owners that had a vested interest in
keeping the building like the day it opened.
Please do not get me wrong we
have many fine renters in the building, some of whom aspire to be unit owners
some day, those are not who I am talking about.
My argument simply rests on the sheer volume of renters and not any one
renter in particular. I believe that by
reducing this volume will lead to a better quality of life for those that want
to call Skypoint home.