1516 Bowfin, a Condominium

What 1516 Bowfin, a Condominium's governing documents say

1516 BOWFIN is a two-unit condominium in Carolina Beach, NC. You own your unit and a one-half undivided interest in the common elements. The association handles common area maintenance and master insurance, funded by monthly assessments.

• What you own & maintain: You own the interior of your unit (walls, floors, ceilings, fixtures, appliances) and must maintain and repair it at your own expense. The association maintains the common elements (e.g., building exterior, land, any pool). Limited common elements (e.g., decks serving only your unit) are yours to maintain.
• Leasing & rentals: Rental of the entire unit is allowed, including vacation rentals. Renting individual rooms is prohibited. No timeshare use is permitted.
• Pets: Domestic household pets are allowed subject to rules adopted by both unit owners. Pets must be leashed outside, waste must be removed immediately, and excessive noise must be controlled. No commercial breeding.
• Parking & vehicles: No long-term parking of campers, trailers, boats, or similar vehicles. Only standard 2-ton pickup trucks or smaller trucks are allowed. No junk or inoperable vehicles. Parking must not obstruct the other unit owner's use of common or limited common areas.
• Architectural review: Any exterior changes (structures, fences, painting, satellite dishes, signs) require unanimous written approval of both unit owners. The exterior color of a unit cannot be changed unless the entire condominium's color scheme is changed, also requiring unanimous approval.
• Assessments & fees: Initial monthly assessments are $287 per unit, based on estimated insurance costs. A working capital assessment equal to two months' regular assessment is due at closing. Late payments incur a 4% late fee and 10% annual interest. Unpaid assessments become a lien on the unit.
• Dispute resolution: If the two unit owners cannot reach unanimous consent on any matter requiring a vote, the dispute must be submitted to binding arbitration under North Carolina's Revised Uniform Arbitration Act.

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.