Rent Deferral Policy

 

This is the policy ETRC follows regarding deferred stall rent. It is intended to give an individual member some assistance in time of financial difficulty, minimize financial risk to ETRC, recognize the fact that no ETRC horse is required for any members livelihood, and that members may not be able to find alternate housing for a horse in a short time.

 

GUIDING PRINCIPLES:

 

* Housing a horse at ETRC is a privilege, not a right

* Horse ownership requires a significant commitment of time and money for all concerned

* The ETRC board is obligated to serve the best interests of the club first, before considering the best interests of an individual member

 

RENT DEFERRAL

 

ETRC will allow a member to defer rent on an occupied stall under specific and limited conditions:

 

1. A member in good standing may request rent deferral for up to two months total in any twelve month period. This may be for two single months, or for one two month period. The twelve month period is measured from the month of request, counting that month as 1, and counting back through previous months. If a member has two stalls rented, they may request deferral for one or both stalls.

2. Rent is deferred. It is not forgiven, abated, cancelled or otherwise reduced. The member is expected to repay the entire amount of the deferred rent. The repayment of deferred rent will begin in the first month after the deferral ends. The repayment amount will be at least 1/3 of the total amount of the deferred rent. Failure to repay the deferred rent accordingly will cause the member to lose their "good standing" status.

3. If a stall is vacated for any reason during a deferral period, and the member repays the entire amount of the deferred rent, then the member will retain that stall assignment. If the member does not repay the deferred rent at that time, the stall will be reassigned according to the current stall assignment policy.

4. A member can request a rent deferral by contacting any board member. It is that board member's responsibility to bring the request to the attention of board members who will approve it.

5. Approval for rent deferral is given by a joint decision of the President, Vice President, Treasurer, and Secretary. The President or Vice President may request another board member's decision if the Treasurer or Secretary are not available in a timely manner.

Revision 1.0 effective November 22, 2006