COCLT Homeowners Portal
LIMITED WARRANTY INFO
Home warranties may vary based on the developer/builder. Warranty information is provided at closing detailing the types of warranties that come with a home, as well as their warranty periods. Below is general information about the warranties that are included with the purchase of your home. Do not contact the builder for warranty related items.
Each new construction COCLT home comes with a builder limited home warranty that covers eligible workmanship and materials identified in the homeownership binder. Additionally, the warranty will include defects in the wiring, piping and ductwork in the electrical, plumbing, heating, cooling, ventilating and mechanical systems. Warranted components of a home that do not meet established performance standards during the warranty period will be repaired or replaced.
Please contact the listed contractors in your homeownership binder immediately if you have an emergency situation, as identified in the homeownership binder, related to plumbing, electrical, heating and cooling, or your garage door during the warranty period.
After closing, it is imperative that you register all products within your home for the manufacturer warranty in a timely manner to secure the additional warranties, if offered.
From Day 1, keep a running list of the items covered under the builder limited home warranty that need to be addressed. A few months prior to the end of your warranty period, review and submit your list using the Builder Limited Warranty Service Request form. A COCLT team member will contact you to discuss your list and start the process of determining which items are eligible to be covered under the builder limited home warranty. An appointment will be scheduled to remedy the eligible warranty items.
MAINTAINING YOUR HOME
You have put in a lot of work to get to this point and it has paid off. Now, the fun part begins: making your home truly your own space. Below is information on maintenance, safety precautions, cleaning, warranties, and general tips to ease the transition into COCLT homeownership.
Your new COCLT home was designed to be durable, energy efficient and comfortable; however, all homes age over time so taking a proactive approach to maintenance is recommended. It is important to do regular home maintenance for a variety of reasons: a well-maintained home is simply more comfortable to live in for a homeowner; regular care minimizes unexpected repair work and keeps costs from becoming larger; and lastly, a well-kept home maintains the property value. It is best to perform maintenance on your home as soon as you notice the issue. This helps to prevent further damage from occurring and can help keep repair costs down. It is a good idea to inspect your home and yard once every six months to identify any items needing work.
Who do I contact at COCLT with questions?If you have not been able to find answers to all your questions, feel free to email us.
What if I need to change my banking information for the Land Lease Fee?The form needed to make a change to your banking information is located on the COCLT Documents page or by clicking here. Additionally, you must provide a document that includes BOTH your name and your FULL bank account number (e.g., voided check or a letter from your banking institution) and routing number. Any changes must be received prior to the 20th of the month for the subsequent month.
What happens if I do not make my the Land Lease fee payment on time? ( Land Lease - Article 12)If the homeowner fails to pay the Lease Fee to COCLT, and the fee is left unpaid for 30 days following notice from COCLT, then you are out of compliance with the Land Lease and will be assessed a late fee of $15.00.
Who pays the property taxes?The homeowner pays all the taxes associated with the property. As with all homeowners, property taxes and mortgage interest are tax deductible.
What if I want to refinance my COCLT home? (Land Lease - Article 8)Homeowners may refinance their mortgage or obtain a home equity line of credit only with COCLT’s written permission. More information can be found here. The form needed to begin the refinancing/loan process is located on the COCLT Documents page or by clicking here.
What happens if I want to sell my home? (Land Lease - Article 10)Homeowners wanting to see their home must notify COCLT. More information can be found here. The form needed to notify COCLT of your intent to sell is located on the COCLT Documents page or by clicking here.
What is the Resale Formula - and how does it work? (Land Lease - Article 10)The resale formula outlines how the COCLT calculates the maximum price at which a homeowner can resell their home. The resale formula is identified in Article 10 of the Land Lease found here.
What costs will the homeowner pay when selling the COCLT home? (Article 10)The homeowner will pay all closing costs related to the purchase, any outstanding Land Lease fees owed to COCLT, and any amounts necessary to discharge any liens against the home.
What happens if COCLT sells or transfers the land my home is on? (Land Lease - Article 3)COCLT does not intend to sell or transfer the land underneath the CLT homes. In the unlikely event that the COCLT dissolves or must transfer the land to another entity, then the homeowner’s Land Lease on the land would continue for the remainder of its term. However, if the land were to be transferred to an entity other than a non-profit corporation, a charitable trust, a government agency, or an organization with goals similar to those of COCLT, then before the transfer occurred, the homeowner would have a right of first refusal to purchase the land underneath the home.
What if I have a dispute with COCLT? (Land Lease - Article 13)COCLT and the homeowners can take their dispute to mediation. The costs of the mediation will be split equally among the parties. If the dispute is not resolved in mediation, the issue will be submitted to binding arbitration.