Warwick Condominium

Key facts from Warwick Condominium's documents

Reflects the 2009 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Master Deed paragraph 1: 'establish a co)

Legal name

Warwick Condominium Association, Inc.

Units / lots

277 (Master Deed: '274 residential rental uni)

Governing law

New Jersey Condominium Act (N.J.S.A. 46:8B-1 et seq.) (Bylaws 1.01; Master Deed paragraph 1)

Assessments & dues

Determined annually by Board; Common Expenses allocated by percentage interest per Master Deed Exhibit D (Bylaws 7.01, 7.02; Master Deed paragraph)

Special assessments

Board may impose Emergency Assessment for immediate need (7.07); also special assessments to cover losses from operations (7.05(e)) (Bylaws 7.07, 7.05(e))

Collections & liens

Unpaid assessments, fees, costs become a lien on the unit; Board may accelerate installments and foreclose lien (Bylaws 7.08, 2.06 (for working capital))

Reserves & fees

Reserves for deferred maintenance, replacement, capital improvements required; must be kept in separate interest-bearing accounts (Bylaws 7.05(b)(c)(d), 7.06)

Leasing & rentals

Yes; Member may lease unit; tenant may use recreation facilities but cannot vote unless Member permits proxy; tenant subject to Association rules (Bylaws 2.05)

Maintenance

Association maintains Common Elements (including lawn, snow removal); Unit owner responsible for interior maintenance and limited common elements (terrace/balcony) except if damage caused by unit owner negligence then cost to unit owner (Bylaws 6.02(a), 6.01(g); Master Deed par)

Insurance

Amount and responsibility for payment determined by Board in its sole discretion (Bylaws 6.02(g)(i) and (viii))

Voting & meetings

One vote per unit; co-owners jointly one vote; voting by proxy and mail ballot allowed; only Members in Good Standing may vote (Bylaws 2.05, 2.07, 2.08, 3.07, 3.10)

Amendments

Bylaws may be amended at a meeting with prior written notice of exact language, quorum present, by affirmative vote of 51% of votes entitled to be cast in person or by mail ballot; Master Deed amendment not specified but percentage interest (Bylaws Article XI)

Extracted from the recorded governing documents and cited to them; may be incomplete and is not legal advice — verify against the official documents below.