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Rental Procedures at 509 Elm Place Residences

To all 509 Elm Place Residences homeowners:

The 509 Elm Place Residences Board of Directors must give its approval to a homeowner before any tenant is permitted to reside at 509 Elm Place Residences.

The 509 Elm Place Residences HOA Bylaws state that any homeowner who wishes to rent out their condominium to a tenant shall provide the Board of Directors with a copy of a Criminal Background Check before a potential tenant moves into a condominium located at 509 Elm Place Residences. It is mandatory that a credit report, rental history, and an employment background check will also be performed. Each homeowner shall provide a copy of the Bylaws to a potential tenant to thoroughly read before a lease agreement is signed by the new tenant. The property Bylaws are listed at www.509elmplacedallas.com.

In the event that a tenant is approved by the Board of Directors to move into a condominium located at 509 Elm Place Residences, a copy of a lease agreement between tenant and homeowner or tenant and Management Company shall be provided to the Association within ten (10) days after move in date. A contact information form shall be filled out with each individual person(s) information that resides at 509 Elm Place Residences and turned into the Association within ten (10) days after the move in date. The 509 Elm Place Residences contact information form can be located at www.509elmplacedallas.com.

Homeowners who rent out a condominium located at 509 Elm Place Residences shall provide the Association with a deposit in the amount of $750.00 prior to their tenants move in date. Subject to the Rules, an Owner or occupant may keep in a unit up to (2) permitted pets. The weight limit for each pet is (40) pounds. A non-refundable pet deposit of $450.00 is due and must be made payable to 509 Elm Place Residences HOA prior to move in date.

A prior thirty (30) days written notice of a move in date shall be turned into the Association by the homeowner or Management Company of any person(s) who wishes to move into 509 Elm Place Residences. Only a professional insured moving company that provides the HOA with a copy of its insurance policy, prior to the move in date will be allowed to perform any moving of a residents belonging’s into 509 Elm Place Residences.

Failure of a homeowner, Management Company, and/or a tenant to abide by the HOA Bylaws could result with a homeowner to incur violation fines from the Association.

Thank You.