Property Owners who Plan to Rent Out their Cottages, Even for a Day, Should be Preparing Permit forms, Fees, Rules
All SLI property owners were notified by U.S. Mail this year, 2021, of two important changes in Silver Lake Institute policy with regard to property owners who rent out their properties to others whose names are not listed on the Deed or Tax Bill.
Reminder #1: The Annual Permit Request to Rent Out property must be turned in before the beginning of the new calendar year. The non-returnable, Annual Permit Fee of $500 must accompany the Permit Request or the Permit Request is incomplete. The one-time, refundable Deposit Fee of $500 should also accompany the Permit Request form. Each property requires its own Permit Request form, Request form fee, and Deposit fee.
Reminder #2: Any property that is being used as a rental income property must insure that both the property owner and the rentee are familiar with the one-page Rental Rules of the Institute reprinted from the official SLI Handbook. These rules should be prominently posted in the rental cottage and attention drawn to them initially. Violations of SLI rules and/or property damage to SLI public property will be charged against the Deposit Fee and the Deposit Fee must be brought back up to the total Deposit amount before additional Annual Rental Permits will be considered.
Rental Permits should be submitted with adequate time before the start of a rental period so as to permit the approval process some working time. Additional questions may be answered at the silverlakeinstitute.org web site under the "News" category or by stopping by the SLI office at 46 Wesley Avenue.