Bradley Park Condominiums

What Bradley Park Condominiums's governing documents say

Bradley Park Condominiums is a condominium community in Raleigh, NC — you own your individual unit and an undivided share of the common elements. The association (Bradley Park Homeowners Association, Inc.) manages the common property and carries master insurance; the declaration governs how the community operates.

• What you own & maintain: You own your unit's interior (walls, floors, ceiling finishes, interior partitions, fixtures) and an undivided percentage interest in the common elements. The association maintains, repairs, and insures the common elements; you maintain your unit and are responsible for damage you or your occupants cause to common elements or other units.
• Leasing & rentals: Leases must be for the entire unit, in writing, and for a term of at least 30 days — transient or hotel rentals (shorter than 30 days or including hotel services) are prohibited. You must notify the association of each lessee's name, address, unit, and lease term. Otherwise, you have the full right to lease your unit.
• Pets: No pets are allowed unless the board or association adopts rules permitting them. The declaration itself bans pets, but the board may create exceptions through rules and regulations.
• Use restrictions: Units may be used only for residential purposes. No 'For Sale' or 'For Rent' signs or window displays are allowed without the board's written consent. You may not do anything that increases the condominium's insurance rates or causes policy cancellation.
• Assessments: The board levies assessments for common expenses; each unit's share is based on its percentage of common expenses (shown on Exhibit C: each of the 12 initial units pays 8.333%). Assessments become due monthly and are a lien on your unit if unpaid. You cannot exempt yourself by waiving use of common elements.
• Parking & storage: Each unit is allocated specific limited common elements — storage compartments and parking spaces — as shown on the floor plans. The association is responsible for maintaining those limited common elements, and repair costs for them are assessed against the unit(s) they serve.
• Expansion & amendment: The developer reserved the right to add up to 12 more units in a second building, which would reduce each existing unit's percentage interest in common elements (by up to half). Major amendments (e.g., changing voting rights, assessments, leasing rules, boundaries) require approval from eligible mortgage holders if any unit has VA financing.
• Insurance: The association must carry casualty insurance on the property at full replacement cost and at least $1 million public liability insurance. You may buy your own personal property, additional living expense, or liability coverage, but it must not conflict with the association's policies.

Plain-language summary generated from the governing documents on file for this community. It may be incomplete and is not legal advice — read the full documents below or consult the official recorded versions.