Island Dream Townhomes II
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What Island Dream Townhomes II's governing documents say
Island Dream Townhomes II is a 2-unit condominium in Carolina Beach, NC — you own your unit and a 50% undivided share in the common areas, which the association maintains and insures. This document is the full Declaration of Condominium, binding all unit owners, tenants, and occupants.
- What you own & maintain: You own the interior of your unit (bounded by unfinished surfaces of perimeter walls, ceiling, and floor joists) and a 50% undivided interest in common areas. The association maintains common elements (foundations, roofs, exterior walls, yard, parking, utility lines) and limited common areas (decks, driveways, garages serving only your unit). You must keep your unit in good repair at your own expense.
- Leasing & rentals: Rental of units is allowed, subject to association rules. No time-share sales are permitted. The association can provide a statement of unpaid assessments to prospective tenants upon request.
- Pets: The association may require removal of any pet determined to be a nuisance.
- Architectural review: No structural modifications or exterior changes (painting, antennas, signs, fences, landscaping) may be made without prior written consent of the Board of Directors.
- Parking & vehicles: Boats, trailers, motor homes, and similar vehicles may not be stored on common or limited common areas except as designated by the Board.
- Assessments & fees: Each unit owner pays 50% of common expenses, including a capital reserve fund. Assessments are payable monthly unless the Board decides otherwise. Delinquent assessments accrue interest at the maximum legal rate, plus late fees and collection costs, and create a lien on the unit.
- Insurance: The association carries master property and liability insurance (minimum $300,000 per occurrence) on the building and common areas, paid as a common expense. Unit owners are insureds under the policy for liability arising from common elements. Proceeds are used for repair or replacement; any surplus after full restoration is distributed to owners and lienholders.
- Use restrictions: Units are for single-family residential use only. No immoral, offensive, or nuisance activities are allowed. Owners must comply with all laws and zoning.
Key facts from Island Dream Townhomes II's documents
- Community type
- Condominium
- Legal name
- Island Dream Townhomes II
- Developer / declarant
- DR Associates, LLC
- Governing law
- Chapter 47C of the General Statutes of North Carolina, the North Carolina Condominium Act (Article I A)
- Assessments & dues
- Board establishes proposed annual budget, delivered to members at least 10 days before annual meeting; budget submitted to membership for approval at annual meeting. (Article XI B)
- Collections & liens
- Unpaid assessment constitutes a lien against the unit; enforceable when filed in public records. Foreclosure permitted; Association may bid and acquire unit. (Article XI H, I)
- Reserves & fees
- Capital improvement fund maintained in separate account, subject to membership approval at annual meeting. Used only for capital improvements. (Article XI C)
- Pets
- Yes, but Association may require removal if determined to be a nuisance. (Article VIII E)
- Leasing & rentals
- Rental of units by owners is permitted pursuant to rules and regulations established by the Association. (Article VIII A)
- Fences
- Fences cannot be fixed to common or limited common areas without Board consent (included in 'fix any object'). (Article VIII C)
- Architectural approval
- Written consent of Board required for structural modifications, alterations to exterior (including painting, TV/radio antenna/dishes/signs), and fixing any object to common or limited common areas. (Article VIII C)
- Signs & flags
- Installing signs requires written consent of Board of Directors. (Article VIII C)
- Maintenance
- Common area (roofs are included in common areas and facilities). (Article V A 1)
- Insurance
- Deductible payable by Association is a common expense. (Article XIV C)
- Use restrictions
- Buildings and each unit shall be used only for single family residential purposes. (Article VIII A)
- Amendments
- Declaration may be amended by vote of not less than all unit owners at a meeting under By-Laws; amendment effective when recorded. No amendment detrimental to Declarant without Declarant's written approval. (Article XIX)
About this HOA
Island Dream Townhomes II is a homeowners association in Wilmington, NC.
HOAproxy has 1 document on file for Island Dream Townhomes II: 1 CC&R. Last updated 2026-06-01.