1508 South Lake Park Condominiums

What 1508 South Lake Park Condominiums's governing documents say

1508 South Lake Park Condominiums is a condominium community in Wilmington, NC — you own your individual unit and share ownership of the building's common elements, which the association maintains and insures, funded by per-unit assessments based on square footage.

• What you own & maintain: You own the interior of your unit, including non-load-bearing walls, interior finishes, windows, exterior doors, and separate HVAC equipment. The association maintains the common elements (foundations, roofs, exterior walls, stairways, parking areas, utility installations) and limited common elements like decks and storage spaces assigned to your unit.
• Use restrictions: Units are for single-family residential use only. No immoral, offensive, or unlawful uses. No structural alterations or exterior changes (painting, antennas, signs) without board approval. No grills within 10 feet of the building. No boats, trailers, or motor homes on the property except in designated areas. No satellite dishes without board approval.
• Pets: The association may require removal of any pet that is determined to be a nuisance. No specific pet limit is stated in this document.
• Leasing & rentals: Long-term leases are permitted. No minimum lease term is specified in this document.
• Parking & vehicles: The association has exclusive right to assign parking spaces and designate their use. Boats, trailers, and motor homes may not be stored on the property except in areas designated by the association.
• Architectural review: No structural modifications or alterations to your unit, and no changes to the exterior of the building (including painting, antennas, signs) without prior written consent of the board. No objects may be affixed to common elements or limited common elements without board approval.
• Assessments & fees: Unit owners must pay assessments for common expenses based on their allocated interest (percentage of total square footage). The association may levy fines up to $150 per day for violations.
• Insurance: The association carries hazard, flood (if in flood zone), and liability insurance (at least $1,000,000 per occurrence) on the common elements. Unit owners may obtain their own insurance for their unit and personal property.

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.