RENTERS by Dave Lewellen Less Vacancy Rentals Increase in Community Associations he recent swoon in the housing market and the current recession are having an affect on the occupancy of many units and properties in our region and nationwide. One major result is the increase in long-term tenants moving into units that were previously owner-occupied. In some cases, the increases in rentals have been dramatic, and this can be worrisome to boards as they watch the makeup of their association change. T Get Renters Involved In CAI’s opinion, this phenomenon need not be “worrisome.” See the accompanying CAI policy paper that the board of trustees adopted in 1983 and revised in 1993. The viewpoints then are still valid now. Renters can be certainly more valuable to a property than having the property vacant. Renters have signed a long-term lease to make the property their temporary home, and they also want the association they have moved into to thrive and prosper, just as the owners do. Renters can be valuable in terms of being active within the community, and can even serve on committees. Also, invite renters to meetings and keep them posted on association news and events by making sure they visit the association Web site or receive the association newsletter. Tenants still need to realize they must abide by all of the appropriate rules and regulations, and they can risk losing the privilege to live within the community if they do not. It is not only very important to make sure tenants have not only received an up-todate copy of the rules and regulations, but that they understand them and have “signed off” on them. 26 CONDO MEDIA • SEPTEMBER 2009