Austin Commons

What Austin Commons's governing documents say

Austin Commons is a condominium community in Wilmington, NC, consisting of 18 units in metal buildings. The units are for office or business purposes only—no residential use is allowed. Unit owners share undivided interests in common elements equally and are subject to assessments and rules set by the Austin Commons Condominium Unit Owner's Association.

• Permitted use: Units may only be used for office or business purposes and incidental uses. Residential use is strictly prohibited.
• What you own & maintain: You own the interior finished surfaces of your unit (walls, floors, ceilings) and are responsible for maintenance, repair, and replacement of all interior surfaces, appliances, HVAC, and fixtures. The association maintains common elements including foundations, exterior walls, roof, parking, sidewalks, and utility infrastructure.
• Assessments & fees: Common expenses are shared equally among all 18 units. The board sets an annual budget and assessments are payable in monthly, quarterly, or annual installments. A majority of owners must approve any yearly assessment increase exceeding 10% over the prior year.
• Pets: No animals, domesticated or otherwise, may be kept in any unit or common areas without the prior written consent of the association.
• Leasing & rentals: The document does not specify any restrictions on leasing or minimum lease terms. However, since residential use is prohibited, any lease must be for office/business purposes.
• Architectural review: No structural modifications or exterior alterations may be made without written consent of the board. All exterior signs must be approved by the board.
• Insurance: The association carries property insurance on buildings and common elements (at least 80% replacement cost) and liability insurance. Premiums are common expenses. Unit owners are responsible for deductibles if their actions cause damage.
• What this document doesn't cover: This excerpt does not include the full declaration, by-laws, or rules and regulations. Specifics about parking assignments, utility responsibilities, or enforcement procedures are not detailed here.

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.