Soho Lofts

Key facts from Soho Lofts's documents

Community type

Condominium

Legal name

Council of Co-Owners of SoHo Lofts Condominiums, Inc.

Developer / declarant

NuLu Lofts, LLC

Governing law

Kentucky Horizontal Property Law, KRS Chapter 381 (Article I (Submission of Property))

Reserves & fees

Budget must include capital and operating reserves, at least one month's operating expenses (Article VII Section 1(b) (end of second )

Leasing & rentals

Yes, but limited to 9 Units at any time; additional rules apply (Article XIX Section 2 (First Amendment):)

Parking & vehicles

Each Unit has one parking space and one storage space appurtenant; Additional Parking Spaces may be acquired only by Unit Owners; no parking space may be conveyed to non-Unit Owners (Article IV Section 5)

Architectural approval

For commercial signage: approval deemed granted if not acted upon within 30 days after submission (Article IV Section 3(b): 'approval shall)

Maintenance

Unit Owner liable for damage to Common Elements or other Units caused by owner's negligence or acts; Board may perform repair and lien owner if owner fails to do so within 10 days. (Article VI Section 3)

Use restrictions

Prohibited: no Unit shall be used in a manner that constitutes a public or private nuisance (Article IX Section 1(a)(ii))

Amendments

Amendment requires approval of Unit Owners holding greater than 50% of total percentage interest in Common Elements (from First Amendment preamble). For Material Amendments, similar majority required. (First Amendment preamble (WITNESSETH par)

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