PT Condo Leasing Wait List

Unit Owner initials are listed below, in the order we received their “Intent To Lease” form. To be added to the list, complete the form and forward it to the Management Office, either by hard copy or via e-mail at parktowercondo-mgmt@habitat.com. Below that, please find the leasing policies and procedures.

Regardless of where you may be on the list, there is no way to determine how long it will take to reach you. Though, one could extrapolate how long Owners have waited by reviewing the dates. The office will proactively contact owners on the list, when we are below 30% renter occupied, and assuming the Owner has resided at Park Tower for at least 2 years. See the leasing policy below, for more.

ET     2/6/2024
CG     2/14/2024
WS     3/6/2024
BL     3/7/2024
AS     4/17/2024
MS     5/1/2024
CF     5/10/2024
NB     5/29/2024
SB     6/11/2024
AC     6/11/2024
RM     6/28/2024
RH     7/9/2024
CC     7/12/2024
AV     7/18/2024
AC     7/20/2024
EM     7/23/2024
DA     7/23/2024
AG     7/31/2024
SV     8/16/2024
HG     8/23/2024
MP     10/2/2024
PG     10/4/2024
YG     10/7/2024
BM     10/18/2024
AV     11/1/2024
ZJ     12/9/2024
EB     2/17/2024
AK     1/24/2025
RG     1/27/2025
SA     2/2/2025
DG     2/3/2025
DJ     2/12/2025
AV     2/12/2025
DD     2/13/2025
JC     2/26/2025
SM     4/1/2025
RG     5/16/2025
SC     5/29/2025
LH     7/7/2025
GC     7/9/2025
MG     7/21/2025
AB     7/22/2025
IS     7/23/2025
AS     7/29/2025
IO     7/30/2025
LW     8/13/2025
GC     8/21/2025
HB     8/21/2025
HA     8/26/2025
SG     9/4/2025
AH     9/5/2025
AH     9/18/2025
TN     10/10/2025
JB     10/30/2025
RC     11/12/2025
YM     12/12/2025
FR     12/12/2025
ZM     12/22/2025
EH     1/6/2026
MW     1/8/2026
JM     1/18/2026
EN     2/2/2026
AB     3/2/2026

Leasing Rules

Unit owners, once allowed to become landlords (see “Leasing Policy” below), shall advise the association of their intention to lease a unit and shall provide a copy of any executed lease to the Management Office. The association will not become involved in the selection process and shall only facilitate the completion of mandatory requirements such as a completed Lease Procedures packet and applications, credit checks, elevator and parking agreements, collection of fees, etc.

Prospective tenants may not move in until all requirements specified in the Lease Procedures packet are met. All new tenants are required to attend a New Resident meeting and will not be entitled to several privileges until such requirement is met. Additional information is available from the Management Office.

Leasing Policy

Owners shall inform management in writing of interest in renting out a unit not currently leased. Should the percentage of rental units at that time be equal to or higher than 30%, the owner will be placed on a wait list, maintained by management. Management will inform the owner of the status of the request within 10 calendar days. If, at that time, the percentage of rental units is less than 30% and there is no one on the wait list, the association will allow a lease to be entered into.

When the target percentage is reached (below 30%), the owner at the top of the list will be informed that the unit may be rented. The owner must respond within 10 days of a desire to lease, or management will move on to the next person on the list. Such an owner will have six months during which to purchase a unit for rental purposes, if not already purchased, or to rent out a unit already owned. Once in possession of a unit intended for rental, the right to rent may be retained for another six months so long as it can be demonstrated that the unit is either being actively renovated or that a tenant is being sought. Once rented out, the owner of that unit can continue renting it out without regard for the 30% rule.

Owners intending to become new landlords shall have lived in the building (whether as renters or as owners) for the two years preceding the request to lease the unit. The new landlord, after fulfilling the percentage and residency requirements, may rent out the unit either in which they have lived or another unit which they already own.

Owners renting out specific units, at the time of the implementation of this policy, are “grandfathered” owners and may continue to rent these units to either current or future renters, irrespective of rental percentages. If an already rented unit is sold after the implementation of this policy, the new owner may continue to rent to the lessee occupying the unit before the time of sale without regard to the 30% rule, but the new owner will then be subject to both the 30% rule and a 2-year residency requirement when that lessee moves out.  An owner intending to purchase and/or rent a unit not previously rented out will be subject both to the 30% rule and the 2-year residency requirement.

Original leases will be for a two-year period, with opt-out privileges by which either landlord or tenant can forgo the second year by giving the other party 60 days’ notice prior to the one year anniversary. Any provision for increasing the rent for the second year should have either been written into the original lease or made clear to the tenant by a similar notice 60 days prior.

The board may grant a resident owner, due to hardship, permission to lease a unit without having satisfied the residency or percentage requirements. Requests for a hardship exception shall be sent to management in writing.

Leasing of a unit in violation of the proposed rental policy may result in a fine to the owner of a minimum $1,000 per month. Short-term rentals of any length (on such platforms as AirBnB and VRBO) are specifically prohibited and will result in a minimum fine of $1,000 per month.

To download the leasing policy, Click Here.

Please contact the office with any questions at parktowercondo-mgmt@habitat.com.