4.1 | The occupation and use of the Units shall be in accordance with the following restrictions and stipulations: |
(a) | Dwelling Units |
(i) | Each Dwelling Unit shall be occupied and used only as a private single family residence and for no other purpose. No Dwelling Unit shall be used for commercial or professional purposes as these terms are or may be defined from time to time in the rules. |
4.2 | Restrictions on Transfer and Requirements for Leasing |
(a) | No owner of a Dwelling Unit, except
the Declarant, shall lease such Dwelling Unit unless prior to entering
into any lease agreement to lease, such owner has obtained from the
proposed tenant an information statement in the corporation’s form
setting out the number and relationship to one another of the intended
tenants and/or occupants of the Dwelling Unit under the lease, whether
or not the proposed tenant will similarly lease a Parking Unit from the
owner or another owner of a Parking Unit, the licence number of any
private passenger motor vehicle intended to be parked in such Parking
Unit, the length of term of the tenancy, such other reasonable
information as may be set forth in the rules of the corporation and a
covenant that the tenant, occupant or guests from time to time, will,
in using the Unit rented and the common elements, comply with the Act,
the Declaration, the by-laws, and the rules of the Corporation, during
the term of the tenancy. Such owner, prior to the commencement of the tenancy, shall deliver said statement and covenant to the corporation endorsed by the owner of the Unit whose address for service and telephone number, in the case of an emergency, shall be noted thereon. Until the corporation is in receipt of the aforesaid documents, duly completed and executed by the tenant and by the owner, the corporation shall be under no obligation whatsoever to permit or to provide access to the Dwelling Unit and/or Parking Unit and to the common elements by such proposed tenant including, but not limited to, the use of the elevator designated for moving furniture and personal belongings into a Dwelling Unit. |
ii) any unit owner, or any property manager acting on behalf of any unit owner or group of unit owners, from leasing or renting any dwelling unit(s) in this Condominium from time to time, for any duration and on any number of occasions, and whether in a furnished or unfurnished state, with or without ancillary maid, cleaning and/or laundry services.
The vast majority of owners don't realize that they have agreed to share their home and prized amenities with an unknown number of budget hotel suites run by both professional rental companies and small-time amateurs.