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Notice on Leasing Subleasing or Licensing

Notice to Stockholders about Leasing, Subleasing or Licensing

Date:  January 8, 2019

 

Questions have recently arisen as to whether it is permissible to list or host your home on Mahopac Point by using Airbnb or similar services, or to rent out your home for short term periods of time.

 

The Board of Directors has carefully examined these issues and has concluded that either of the following would be a violation of the current MPOA By-Laws and the Deed Restrictions to which MPOA properties are subject:

  1. Leasing, subleasing or licensing any building for use or occupancy in exchange for compensation, for a term of less than 6 months; or
  2. Leasing, subleasing, or licensing any part of a building in exchange for compensation, regardless of the length of time or term of such arrangement.

 

This Notice should not be interpreted to permit any other type of leasing, subleasing or licensing arrangement not described above, as the By-Laws and Deed restrictions would need to be examined for their application to any such arrangement.

 

The Board of Directors also wants to take this opportunity to remind stockholders that the Board has the authority to assess a homeowner for costs and expenses the MPOA incurs in matters specific to that homeowner, where the homeowner is responsible for the cost or expense having been incurred.  

 

So, for example, a homeowner who leases, subleases or licenses a building in violation of the MPOA By-Laws or Deed Restrictions, may be assessed for costs and expenses incurred by the MPOA that arise from that arrangement. This may include, for example and without limitation, amounts arising from damage to MPOA property, liability incurred by the MPOA, or legal fees incurred by the MPOA. (On the subject of Individual Assessment of Legal Fees, please see the Board’s Policy, dated April 10, 2018, posted on the MPOA website.)