Security Deposits on Rentals 

Those owners who choose to rent their units carry the largest responsibility.  Not being there or personally knowing your tenant is no excuse for shirking the burden.  Signing a lease does not abdicate the owner from assuming responsibility for their Unit therefore, The Harborhead Condominium Board of Directors has recently approved establishing an In-house Security Deposit for all rental units. The Security Deposit has been instituted to protect our property and provide the same control common in many other Condominiums. Owners will be held financially responsible for damage, injury, destruction or other expenses caused to common property, pool facilities and/or other units by themselves, their children, guests, tenants or pets. 

The Security Deposit policy is defined as follows: 

• A $1,000 returnable security deposit will be required on all units being rented  effective January 1, 2008 

• The unit owner will be required to provide a copy of the rental lease to the Management Company WITH ALL OCCUPANTS LISTED.  Failure to do so will result in $500 fine. Lease Addendum can be downloaded here. 

• Security Deposits collection and return will be administered separately from Maintenance Fee payments and statements. 

• Owners are responsible for educating tenants and guests on the rules and regulations of Harborhead and assuring their compliance.    Tenants must cooperate with the Management Company and/or other contractors when access to the unit is required for repairs and other necessary functions. 

• The Association will notify the unit owner promptly if a Rental Security Deposit is not being fully refunded so the charge can be applied to the renter before their Security Deposit is returned by the unit owner (e.g. within 30 days). 

• SECURITY DEPOSITS WILL BE FORFEITED IF IT FOUND THAT A RENTAL UNIT IS BEING OCCUPIED BY ANYONE OTHER THAN THOSE LISTED ON THE RENTAL AGREEMENT. 

• POINT PLEASANT BEACH TOWNSHIP SUBSECTION 13-2.1 

THE TERM RENTAL SHALL INCLUDE THE USE OF A RESIDENCE BY SOMEONE OTHER THAN THE OWNER EVEN THOUGH NO FUNDS ARE TRANSFERRED FOR SAID USE.