Tidewinds

What Tidewinds's governing documents say

Tidewinds is a condominium community in Wilmington, NC — you own your individual unit and share ownership of the building's common elements, which the association maintains and insures. This declaration governs Phase 1 (9 units) and allows the developer to add up to 39 more units in future phases. Each unit is restricted to rental purposes only.

• Use restriction: rentals only: Every unit is restricted to rental purposes only — owners cannot occupy units as their primary residence; they must be rented to tenants.
• What you own & maintain: You own the interior of your unit (including non-load-bearing walls, finishes, appliances, and HVAC equipment) and an 11.11% undivided interest in the common areas. You are responsible for maintaining all interior surfaces, appliances, and equipment within your unit.
• Common areas & association maintenance: The association maintains all common areas (building exterior, foundations, roofs, stairways, parking, pool, utility infrastructure) and carries master insurance on the building and common elements. Common expenses are shared proportionally based on your unit's 11.11% interest.
• Architectural review & alterations: No structural modifications or exterior changes (including painting, antennas, or landscaping) may be made without the association's written consent. Interior non-structural changes do not require approval.
• Leasing & rentals: All units must be rented — no owner occupancy. The declaration does not specify minimum lease terms, pet limits, or other rental restrictions beyond the rental-only use requirement.
• Developer rights & future phases: The developer reserved the right (until Dec 31, 1988) to add up to 39 additional units in future phases, with the power to adjust ownership percentages and voting rights without unit owner consent.
• Insurance & damage: The association must insure buildings and common areas for replacement value, including fire and extended coverage. Insurance proceeds are held in trust and used for reconstruction unless the condominium is terminated.
• What this document doesn't cover: This declaration does not specify pet rules, parking assignments, age restrictions, or specific lease terms (e.g., minimum lease duration). Those may be addressed in the association's bylaws or 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.