Vero Professional Properties Assn

Key facts from Vero Professional Properties Assn's documents

Reflects the 2007 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (commercial)

Legal name

VERO PROFESSIONAL PROPERTIES ASSOCIATION, INC.

Developer / declarant

VERO PROFESSIONAL PROPERTIES, INC., a Florida Not for Profit Corporation (Preamble)

Governing law

Chapter 718, Florida Statutes (Condominium Act) (Article II, Submission Statement)

Assessments & dues

Set by Board via Annual Budget; based on percentage interest (Article XXIV, Sections 1-3)

Special assessments

Board may levy additional assessments if needed (Article XXIV, Section 3)

Collections & liens

Association has lien on Unit for unpaid assessments, interest, costs, attorney's fees; may foreclose (Article XXIV, Section 11-12)

Reserves & fees

Board must include sum in budget for replacement of Common Elements and Limited Common Elements as provided in Bylaws; also may include general operating reserve (Article XXIV, Sections 4-5)

Parking & vehicles

Assigned by Developer; visitor parking for visitors; only passenger automobiles; no commercial trucks, trailers, campers, boats (Rules and Regulations, Sections 15)

Architectural approval

Prior written approval of Association required for improvements, alterations, changes to exterior, etc. (Article V, Section 4; Rules and Regulati)

Maintenance

Unit Owner responsible for interior walls, windows, HVAC, fixtures within Unit; Association responsible for Common Elements, structural components, utilities in Common Elements (Article XIX, Article XX)

Insurance

Association obtains insurance for building, all units, common elements, personal property; comprehensive general liability; fidelity bond (Article XXII, Section 4)

Use restrictions

Residential use prohibited (Article XIII, Section (i))

Voting & meetings

Each Unit Owner entitled to vote per Articles and By-Laws (Article XIV)

Amendments

Developer may amend for Unit boundary changes without approval of others; unanimous consent required for changes to percentage interests; other amendments likely per Condominium Act (Article V, Section 4; Article VI)

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