481 W Central Avenue Condominium

Key facts from 481 W Central Avenue Condominium's documents

Reflects the 2010 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Page DC1: "CONDOMINIUM DECLARATION")

Legal name

481 W. CENTRAL AVENUE CONDOMINIUM

Developer / declarant

KASER COMMUNITY DEVELOPMENT

Governing law

Article 9-B of the Real Property Law of the State of New York (Page DC1: "PURSUANT TO ARTICLE 9-B OF TH)

Assessments & dues

Board determines budget and levies monthly assessments pro-rata according to common interest; increases and special assessments require Board action (By-laws Article III Section 5 item 1: "T)

Special assessments

Board may vote a special assessment to meet additional necessary expenses, pro-rata according to common interest (By-laws Article III Section 5 item 1: "T)

Collections & liens

Unpaid common charges become a lien on the unit; foreclosure after 90 days notice; Board may purchase at foreclosure (By-laws Article V Section 2: "Board shal)

Reserves & fees

Up to $15 additional burden per late payment (By-laws Article V Section 2: "the Board )

Pets

Pets are mentioned in House Rules, indicating allowed but subject to rules (By-laws Article VIII Section 3: "Owners.)

Leasing & rentals

Not explicitly addressed for Unit Owners; Board can lease units acquired through foreclosure (By-laws Article III Section 5 item 3 (po)

Architectural approval

Board must answer within 60 days; failure to do so constitutes no objection (Declaration Section 17(b): "The Board of)

Home business

Not explicitly prohibited; only residential use required, so business likely not allowed (By-laws Article VIII Section 2: "All Uni)

Maintenance

Unit Owner responsible for maintenance and repair of Unit and limited common elements; Board responsible for common elements (Declaration Section 17(a) and By-laws Ar)

Insurance

Fire insurance and public liability insurance; fire insurance initially $600,000; public liability $1,000,000 single limit (By-laws Article VII Section 2: "the fire)

Use restrictions

All Units shall be used for residential purposes only (By-laws Article VIII Section 2: "All Uni)

Voting & meetings

Each Unit Owner has one vote for each percentage of common interest set forth in Exhibit B (Declaration Article 8: "Each Unit Owner )

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