The Cottages at Carolina Beach Lake

What The Cottages at Carolina Beach Lake's governing documents say

The Cottages at Carolina Beach Lake is a small condominium community in Wilmington, NC, consisting of a single building with two residential units. This declaration establishes the condominium regime and binds all unit owners, who share ownership of common elements and are subject to association rules and assessments.

• What you own & maintain: You own the interior space within your unit's perimeter walls, floors, and ceilings, including finished surfaces. You must maintain and repair everything inside your unit, including appliances, HVAC equipment, windows, and exterior surfaces like porches. The association maintains common elements (land, foundations, roofs, corridors, yards, parking areas) and limited common elements (decks, stairs, exterior doors/windows) except for HVAC systems, which are the owner's responsibility.
• Leasing & rentals: Units may be leased on a weekly basis, so short-term rentals are permitted. All leases must comply with the declaration and association rules.
• Use restrictions: Units are for residential use only. No obnoxious or unlawful activities are allowed. No signs, flags, or banners may be displayed publicly. No structural alterations or exterior changes (including painting, antennas, or air conditioning units) without prior written association consent. No planting of hedges or shrubbery without permission, though potted plants are allowed in limited common areas.
• Parking & vehicles: Vehicles must be parked only in designated areas on the common elements. Yards, driveways, and parking areas must not be obstructed.
• Assessments & fees: Each owner pays a share of common expenses based on their 50% undivided interest. Assessments are collected at least quarterly. Unpaid assessments become a lien on the unit after 30 days.
• Insurance: The association carries property insurance on the building and common elements (replacement cost, at least 90% coinsurance) and public liability insurance (minimum $500,000 per person, $1,000,000 per occurrence). Owners should obtain their own insurance for personal property and liability.
• Amendments & termination: The declaration can be amended by a 67% vote of owners (plus mortgagee consent). Changes to unit boundaries, interests, or use require unanimous owner approval. The condominium may be terminated only per state law, with an 80% owner vote (including 100% of affected units) to decide not to rebuild after damage.

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.