24 Years ago, to protect the rights of the original owners, our Association passed an Amendment restricting the rights of new owners to “ONE TIME rental for one year”. Amendment did not apply to long-term, original buyers in the building. As of now, few of those owners remain, and while we want to KEEP that amendment to effectively protect our Association from short-term investors and speculators, it unfairly hurts long-term residents in the building by diminishing property values, and our rights

Because of the “one time, one year” restriction - no family would rent in our building, kids need to attend school for more than a year. We cannot let friends stay here for Summer. Apartments in our building sell at a SIGNIFICANT DISCOUNT to market values of comparable properties

To remediate all those issues, while KEEPING existing rules, the proposed Amendment will allow LONG-TERM OWNERS (owning a unit for more than 5 YEARS) to be treated EQUAL to original owners in the building, and not be subject to “One year, one time” rental restriction

Another smart solution in the Amendment is to make every rental subject to approval by the Condo Board on a 7 days' notice. That rule will effectively eliminate Airbnb and short-term rentals, and will facilitate approval and tracking of applications for long-term rentals

Click "Download and Sign" button for the text of the Amendment. If you agree with it, please sign your full name, unit(s) number(s), total ownership percentage (if you know it), put your signature and date, and return the second page under the door of unit 705. I will collect the votes and, once they reach 75%, pass them to the Board to be recorded in our Master Deed.

Best Regards,

Andrey Kasyanov, proud owner and resident of unit 705 for 22 years