Isla Vista Condominium

Key facts from Isla Vista Condominium's documents

Community type

Condominium

Legal name

Isla Vista Condominium

Developer / declarant

Siam Garden Resort Group, LLC

Governing law

Chapter 718, Florida Statutes (Condominium Act) (Submission Statement, page 3 (BK 2413 PG)

Assessments & dues

Annual budget approved by Board or Unit Owners; assessments calculated based on budget and paid quarterly or more frequently (Section 15.02, page 9)

Special assessments

Allowed; may be levied by Board for unanticipated expenditures (Section 15.02, page 9)

Collections & liens

Association has lien for unpaid assessments; may foreclose like mortgage; also may obtain money judgment (Sections 16.05-16.08, pages 10-11)

Reserves & fees

Developer may waive or reduce reserves for first 2 fiscal years; after turnover, majority of nondeveloper votes needed to waive (Section 15.03, page 9)

Pets

Originally allowed cats, dogs, birds in cages, fish, terrarium animals, but this paragraph (19.10) was deleted by First Amendment; therefore no pet restrictions currently (First Amendment item 4, page 1)

Leasing & rentals

Originally allowed with minimum 14 consecutive days, but paragraph 19.11 was deleted by First Amendment; therefore no minimum lease term now (First Amendment item 4, page 1)

Parking & vehicles

Limited to Unit driveways, garages, and areas designated by Developer or Association (Section 19.02, page 13)

Architectural approval

Material alterations to Common Elements, Limited Common Elements, or Association Property require majority vote of Voting Representatives; exterior appearance changes require prior written consent of other Unit Owner (Sections 11.01 and 12.01, pages 7 and 10)

Home business

Allowed only if meeting Holmes Beach City Code requirements for home occupations (Section 19.06, page 13)

Maintenance

Unit Owner maintains Unit and Limited Common Elements; Association maintains Common Elements (Sections 12.01 and 12.02, page 10)

Voting & meetings

One vote per condominium parcel, cast by Voting Representative (Section 20.02, page 17-18)

Amendments

Developer may amend to correct errors in legal description or survey without approval of Association or Unit Owners (unless required by Act); material alterations to Common Elements require majority vote; other amendments not specified (Sections 4.02 and 11.01, pages 6 and 7)

Extracted from the recorded governing documents and cited to them; may be incomplete and is not legal advice — verify against the official documents below.