(1) Definitions:   

a. A renter is any individual or entity that occupies a residential property within the neighborhood under a lease or rental agreement. The renter does not own the property but has been granted the right to reside in the property for a specified period in exchange for payment (typically referred to as rent) to the property owner. The renter is required to comply with all HOA rules, regulations, and community guidelines during their tenancy.  

b. A rental property is any residential property within the neighborhood that is owned by an individual or entity (the homeowner or landlord) and is leased or rented to a renter. The rental property is subject to the same HOA rules, regulations, and community guidelines as properties occupied by their owners. Additionally, the rental property must adhere to specific restrictions and requirements outlined in the HOA’s governing documents, including any limits on the number of rental properties allowed within the community.  

(2) Limitation on Rental Properties:  

a. The total number of properties within the neighborhood that may be leased or rented shall not exceed 7.5% of the total number of homes within the community.  

b. The number of allowable rental properties will be determined by the Board based on the total number of homes as of the date of the adoption of this indenture.  

c. Any homeowner intending to lease or rent their property must apply for approval from the Board. Approval will be granted on a first-come, first-served basis, and only if the rental cap has not been exceeded.  

(3). Rental Application and Approval Process:  

a. Homeowners seeking to rent out their property must submit a Rental Application to the HOA Board at least 30 days prior to entering into any rental agreement.  

b. The application must include a copy of the proposed rental agreement, the tenant’s contact information, and any other information requested by the Board.  

c. The Board reserves the right to approve or deny any rental application based on compliance with this indenture, HOA rules, and community guidelines.  

The New Proposed change will change the voting requirements from a consent of 2/3 of all the owners (336 owners need to vote “Yes” to approve) to be changed to a Quorum of 25% (126 total owners need to vote “Yes or “No”) and a 50% of the total voting (63 votes for “Yes”) + 1 for a total of 64 vote of “Yes” to approve any changes to our indentures. 

This proposed change will help the community by enabling the HOA and community to update the indentures in the future to accommodate the changing needs of the Carlton Glen Estates Community.  The current 2/3 voting requirement makes it impossible to make any changes to the indentures. 

 Original: 

Amendments. Until all Lots authorized to be developed in the Property have been sold and conveyed for residential use, the provisions hereof may only be amended, modified or changed in whole or in part and as to all or any portion of the Property by Grantor, and thereafter, the provisions hereof may only be amended, modified or changed by the written consent of two-thirds (b) of all the Owners.  To be effective, any amendment, modification or change to the provisions of this Indenture shall be recorded in the County Records. No amendment, modification or change shall reduce or modify the obligations or rights granted to or imposed upon the Trustees or eliminate the requirement that there be Trustees unless some person or entity is substituted for the Trustees with their responsibilities and duties. 

New Proposed: 

Amendments. Until all Lots authorized to be developed in the Property have been sold and conveyed for residential use, the provisions hereof may only be amended, modified or changed in whole or in part and as to all or any portion of the Property by Grantor, and thereafter, the provisions hereof may only be amended, modified or changed by the written consent by having a 25% Quorum and 50% + 1 to approve any amendments, modifications, or changes. 

To be effective, any amendment, modification or change to the provisions of this Indenture shall be recorded in the County Records. No amendment, modification or change shall reduce or modify the obligations or rights granted to or imposed upon the Trustees or eliminate the requirement that there be Trustees unless some person or entity is substituted for the Trustees with their responsibilities and duties.   

 

Proposed Indenture Amendment: Renters and Rental Properties  

A proposed indenture, details below, if passed, will set requirements for renters and rental properties. We MUST have a 2/3rds majority vote YES (336 properties) in order to add this to our indentures. Current rental properties will need to register with the HOA to be grandfathered in.