Island Dream Townhomes I

What Island Dream Townhomes I's governing documents say

Island Dream Townhomes I is a two-unit condominium in Carolina Beach, NC. You own your unit and a 50% undivided share of the common areas. The association maintains the building's exterior, common areas, and carries master insurance. Leases must be at least six months, and no time-share sales are allowed.

• What you own & maintain: You own the interior of your unit (including interior surfaces of walls, floors, and ceilings). The association maintains the common elements (roof, exterior walls, foundations, common utilities, parking, and landscaping) and limited common areas (decks, driveways, garages serving only your unit). You must keep your unit in good repair.
• Leasing & rentals: Rental is allowed but subject to association rules. Leases must be for a term of at least six months. Time-share sales are prohibited.
• Pets: The association can require removal of any pet that becomes a nuisance. No other pet restrictions are stated in this declaration.
• Architectural review: No structural changes or exterior alterations (including painting, antennas, signs, fences, or landscaping) may be made without prior written approval from the Board of Directors.
• Parking & vehicles: Boats, trailers, motor homes, and similar vehicles may not be stored on common or limited common areas except in designated areas approved by the Board.
• Assessments & fees: Each unit owner pays 50% of common expenses. Assessments are due monthly unless the Board decides otherwise. Delinquent assessments accrue interest at the maximum legal rate, plus late fees, and create a lien on the unit.
• Insurance: The association carries master property and liability insurance (minimum $300,000 liability per occurrence) covering the building and common areas. Each unit owner is an insured under the master policy for liability arising from common element interest or association membership.
• What this document doesn't cover: This declaration does not include specific rules on noise, trash, holiday decorations, or rental application procedures. Those may be in the Bylaws or separate Rules and Regulations.

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.