Many multihousing complexes “went condo” a few years ago, but after the market dipped, many of those units reverted back to rentals — creating complex maintenance and leasing issues. We split this column over two weeks; last week we covered who is responsible for repairs and medical-marijuana lease addendums.
• Crime-free addendums. Apartment communities remain committed to being crime- and drug-free communities. Many responsible management companies use these addendums to hold their tenants responsible for keeping their communities safe.
This lease addendum protects renters and the communities they live in by stipulating that those found engaging in illegal activities can be immediately evicted. Individual owners with renters conducting illegal activities may not be able to evict quickly without this addendum, creating a safety situation for others in the community. Be sure to ask if the individual owners in your community are enforcing the same rules.
• Lease terms. Typically management companies will sign leases in six-, 12- or 18-month increments encouraging stability within the community. They also normally conduct screenings of future tenants to review credit, criminal and eviction histories. Individual owners of units do not have to conduct these screenings, and they can sign leases for shorter terms or do month-to-month leases. Although there may not be issues with this, it’s certainly something to be aware of as a renter.
When you are apartment hunting, be sure to ask if there are privately owned units within the community and where they are located. If you know the community was a condo conversion, you should ask more questions to understand the impact on your lifestyle. Also, ask about their enforcement of community rules and how management handles these issues.
Tom Simplot is president and CEO of the Arizona Multihousing Association.