An amendment to the declaration is more permanent as it is voted on by a supermajority of the unit owners, and must be recorded with the county recorder’s office. However these rules passed by a majority of the board can change from year-to-year, and be reversed by subsequent boards. Section 18.4(h) of the Act permits boards to create rules of the association.
If an association intends to create a leasing restriction, it is preferable that the restriction be created by an amendment to the declaration rather than by a board rule. In the event the lease is oral, the owner must provide the board with a “memorandum of the lease” prior to occupancy.
Specifically, Section 18(n) of the Act requires an owner to deliver a lease not later than the date of occupancy or 10 days after the lease is signed, whichever occurs first. The Illinois Condominium Property Act (the “Act”) does contain a limited leasing requirement.
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