Preserve Condominium

Key facts from Preserve Condominium's documents

Community type

Condominium

Legal name

The Preserve Condominium Unit Owners’ Association

Governing law

Chapter 5311 of the Revised Code of Ohio (Throughout documents, e.g., DOC 52170 pa)

Assessments & dues

Board adopts and amends budgets; assessments based on common expenses; specific allocation may be per unit undivided interest or equal per unit if 90% vote (DOC 52225 page 4 (Article XV, Section 15)

Special assessments

Eviction costs (including attorney fees) charged to Unit Owner as a special assessment and make a lien against the Unit (DOC 52225 page 4: "The costs of any evic)

Collections & liens

Association has lien on Unit for unpaid assessments, including interest, late fees, enforcement assessments, collection costs, attorney fees, paralegal fees; lien enforced per ORC 5311.18; judicial sale proceeds first pay costs including in (DOC 52225 page 4-5: "Article XV, Section)

Reserves & fees

Reserve requirement: amount set aside annually shall not be less than 10% of budget for that year unless waived annually in writing by Unit Owners exercising not less than a majority of voting power; also Board may apply common surplus towa (DOC 52171 page 5: "shall adopt and amend)

Leasing & rentals

Leasing allowed; Association may initiate eviction proceedings as Unit Owner's agent with 10 days' notice; costs charged to Unit Owner as special assessment (DOC 52225 page 4: "In accordance with Oh)

Maintenance

Unit Owner responsible for maintenance and insurance of improvements on Limited Common Elements; Association responsible for Common Elements management (DOC 52225 page 4: "the improvements are )

Voting & meetings

Voting power based on ownership interests; Unit owners may suspend voting privileges if delinquent more than 30 days (by Board majority vote) (DOC 52170 page 1-2: "Unit Owners represe)

Amendments

Amendment to Declaration and Bylaws requires Unit Owners representing at least 75% of voting power; Board may amend without Unit Owner vote under ORC 5311.05(E) for compliance, corrections, etc. (DOC 52170 page 1-2: "Unit Owners represe)

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