HOA approval for leases

[Zigner]

ok - thank you. I'm just struggling because I can't get a lease signed without the all the approvals and the tenants couldn't wait - they needed to know that they would have a place to move into on the 1st and I need the rental income.

When did they back out?

ETA: This is just based on curiosity as the prospective tenants were approved.

 

[justalayman]

ok - thank you. I'm just struggling because I can't get a lease signed without the all the approvals and the tenants couldn't wait - they needed to know that they would have a place to move into on the 1st and I need the rental income.

did you tell your prospective tenants the HOA has 15 days to accept or reject the lease? If not, I suggest you make that quite clear with the next prospective tenant. I would also require them to actually sign a lease but make it subject to approval by the HOA per the rules of the HOA (including the time issue).

 

[Onepass]

When did they back out?

ETA: This is just based on curiosity as the prospective tenants were approved.

They were complaining about all the approvals and the length of time last week and Monday they called a backed out.

 

[Zigner]

They were complaining about all the approvals and the length of time last week and Monday they called a backed out.

Then it's on you. You see, as of Weds the 18th (or Thurs the 19th, depending on how you count it), the new tenants were approved. You failed to communicate this to them.