Paradise Cove Condominium
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What Paradise Cove Condominium's governing documents say
Paradise Cove is a condominium community in Carolina Beach, NC — you own your individual unit and a share of the common elements, which the association maintains and insures. This declaration establishes the condominium regime, defines unit boundaries, and sets rules for use, assessments, and governance.
- What you own & maintain: You own the interior of your unit, including non-load-bearing walls, flooring, windows, doors, and interior fixtures. The association maintains the exterior, common areas, and structural elements. You must keep your unit in good repair and comply with insurance requirements.
- Assessments & fees: Annual assessments start at $3,000 per unit ($250/month) and can increase up to 5% per year without a vote; higher increases require a 2/3 vote. Special assessments may be levied for capital improvements. Unpaid assessments accrue 18% annual interest and become a lien on the unit.
- Leasing & rentals: Units may be rented for residential purposes, subject to association rules. No minimum lease term is specified in this excerpt, but rentals must comply with occupancy limits (max 4 unrelated people in 2-bedroom units, total max 6 people or local ordinance whichever is less).
- Use restrictions: Units are for residential use only. No outside clotheslines. Furniture, artwork, or other items visible on balconies or common areas require association approval. Tile or slate flooring on upper floors needs approval and sound-dampening subflooring.
- Parking: Parking is allowed only in designated parking spaces, not on streets or common areas. Parking is unassigned.
- Insurance: The association carries master property and liability insurance (minimum $1M liability) covering common elements and units (excluding personal property). Proceeds are used for repair/reconstruction. Unit owners should insure their own belongings and interior improvements.
- Governance & voting: Each unit gets one vote. The declarant (developer) holds 3 votes per unit until 85% of units are sold or 10 years after first sale. Amendments to covenants require 3/4 approval of all unit owners after developer control ends.
Key facts from Paradise Cove Condominium's documents
- Community type
- Condominium
- Legal name
- Paradise Cove Condominium
- Units / lots
- 20 in Phase 1 (Buildings 1 and 2); future expansion up to 52 additional units, total possible 72 (Article 2 and Article 3: Phase 1 contain)
- Developer / declarant
- CB PARADISE COVE. LLC
- Governing law
- Chapter 47C of the North Carolina General Statutes (North Carolina Condominium Act) and Chapter 47F (North Carolina Planned Community Act) (Preamble and Article 1A)
- Assessments & dues
- Maximum $3,000 per unit per year initially ($250/month); Board may set initial up to $3,300 ($275/month) (Article 9C: 'Three Thousand Dollars ($3,)
- Special assessments
- May be levied in any assessment year for capital improvements, including construction, reconstruction, repair, or replacement of capital improvements on roads and Common Area (Article 9D)
- Collections & liens
- Association may file a lien when assessment unpaid for 30 days or longer; may foreclose like a mortgage under power of sale; lien subordinate to first mortgages (Article 9K, Article 9L)
- Reserves & fees
- Contingency Reserve Fund for unanticipated expenses and capital improvement or repair to Units or Common Area (Article 9B(10): 'To accumulate and maint)
- Leasing & rentals
- Yes, rental of units for residential purposes is allowed pursuant to rules and regulations established by the Association (Article 8A: 'shall include the rental of)
- Architectural approval
- Yes, all furniture, artwork, chimes, or other items visible in or on any common area, limited common areas, balcony or stairwell shall be approved by the Homeowners Association. Flooring on second or third floor requires approval. (Article 8B(1)(h) and (i))
- Use restrictions
- Yes, with rental allowed. Units shall be used for residential and lodging accommodation purposes, including rental for residential pursuant to association rules. (Article 8A: 'The buildings and each of t)
- Voting & meetings
- Two classes: Class A (owners) one vote per unit; Class B (Declarant) three votes per unit constructed until termination (Article 7B)
About this HOA
Paradise Cove Condominium is a homeowners association in Wilmington, NC.
HOAproxy has 1 document on file for Paradise Cove Condominium: 1 CC&R. Last updated 2026-06-01.