Proposal to raise Rental Cap of Highlands in Kirkland Community 

Background:
The rental cap of maximum 4 units was added in 2000 through an amendment. Having such a strict rental cap might make the units in our community less marketable should the owners decide to sell. It has been the popular demand to increase this cap and it has been raised/mentioned in community meetings multiple times in the last few years.

Proposed Amendment

• Increase the rental cap to at least 20% of the total units (9 units)
• Introducing a 12-month wait for new homeowners before they can rent out the unit.

Why?

• Due to the current economy, should the current homeowners want to move to a different house, they won’t be forced to sell the units during a market downturn and have more chances to rent it out. 
• Adding the 1-year wait time requirement will greatly discourage investors who are buying houses just to rent them out.
• By increasing the rental cap and introducing the wait time, this proposal hopes to bring a fair chance to homeowners in the neighborhood to have options should they move out, instead of a near 100% chance of having to sell because they can't rent it out.

What does it take to pass this as an amendment?

• Board must agree to bring it to a vote. The CC&Rs stated that if there are more than 20% residents (9 units) sign this petition, it will be eligible to call for a special association meeting to discuss and vote on the change.
• If it goes forward to a vote, 67% units (29 units) must vote yes for the amendment to pass.

How to support this change?

• Sign this petition as a way to bring it to a vote in a special meeting
• Write to the community manager to express your wish to bring it up for a vote.
• Join the Board meeting next month to voice your opinion.