To streamline this process, we have created the form below so you can submit your required rental information directly to us. If you have any questions or issues using the form, please call
Saunders HOA management at 336-937-6275
These are the rental rules for all communities within The Sherwood Association. This includes Camelot, Hills IV, Hills V, Lytchfield, Shelburne, Sherwood Hills, Single Family, and The Villas
POLICY REGARDING THE RENTAL OF YOUR
SHERWOOD ASSOCIATION HOME.
To download a copy of this policy, click here.
The Sherwood Association has not experienced many home rentals, but it is an important option for homeowners upon occasion. The Association's outside attorney has cited increasing difficulties with renters in other homeowner associations, often resulting from a combination of renters either not understanding a neighborhood's covenants or not being required to follow them. At our attorney's recommendation, the Association's Board approved in early 2015 a Standing Rule for those renting using its authority under North Carolina's Planned Community Act (NCGS Section 47F 3-102 (1)) to create rules for the Association beyond the Covenants if it was to the neighborhood's benefit. This Policy provides the full extent of the Standing Rule on home rentals as approved by the Board.
Rentals terms for a minimum of six months are permitted. Renewals will be treated as new leases. If a Homeowner chooses to rent their home, there are several steps the Homeowner must take:
1. The homeowner must notify the Association’s Property Manager in writing of their intent to rent and the period of the new lease. Upon execution, a copy of the lease must be provided to Sherwood Association’s representative.
2. The Homeowner must include in their rental agreement, language which requires lessees to comply with the Sherwood Association’s protective documents. (See Below) Further, the language must also state that the lessee's failure to comply with Sherwood’s protective documents can result in immediate termination of the rental agreement.
3. The Homeowner must provide the lessee with a copy of Sherwood's protective documents, and the Homeowner must also ensure that key portions of these documents are reviewed with the lessee. Further, the Homeowner must obtain from the lessee a signed statement that the lessee has reviewed and agrees to the protective documents and also their responsibility for following them. A signed acknowledgement must be returned to the Property Manager within fifteen days after the rental agreement has been signed.
Here is the link to the community governing documents (Click Here).
Homeowners are responsible for ensuring that their lessees obey Sherwood’s protective documents. Any violation by a lessee is a violation by the Homeowner/lessor. Homeowners may not delegate the responsibility for obeying all of Sherwood’s protective documents to a lessee or to any other person or entity. Through careful monitoring, Homeowners who rent are fully responsible for those renting to ensure that violations of the protective documents are just as rare as those of other homeowners.
Fines may be levied by the Board for violations of Sherwood’s protective documents as set forth in North Carolina's Planned Community Act. Additionally, if a Homeowner has shown continuing disregard of Sherwood’s protective documents based on the number and/or severity of the violations over time, then the Association's Board may consider other options, including banning the Homeowner from renting for one year after the expiration of the current lease term.
If a Homeowner, after receiving notice from the Board that further rental has been suspended for a year, renews the existing lease or enters a new lease of the property, the Board may fine the Homeowner in accordance with amounts permitted by North Carolina's Planned Community Act as long as the banned lease is in place. The amount of any fines due to rentals shall be a lien on the property and shall continue as a lien until paid in full.
Suggested rental agreement wording for ensuring compliance by renters with Sherwood’s Covenants and Rules follows for those who may consider renting their home:
"The Sherwood Association subdivision has a set of Covenants, Bylaws, and Standing Rules designed to maintain and enhance the quality of life in Sherwood Association and to protect property values. All residents, both owners and renters, are required to comply with these documents, which can be found on the Sherwood Association’s website at www.SherwoodAssociation.com. Failure of a renter to comply with these Sherwood Association documents may result in immediate termination of the renter's lease agreement. By signing this lease, you agree as a Sherwood Association resident that you will become familiar with these documents on the website and remain in compliance with them for the duration of your lease."
Adopted by the Board in August 2015.
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