Courtyard Condominiums Owners Association

Key facts from Courtyard Condominiums Owners Association's documents

Reflects the 2008 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

Courtyard Condominiums Owners Association

Developer / declarant

Sain & Harbert Investments, LLC (Declaration, first page)

Governing law

Oregon Condominium Act (ORS 100.005 to 100.625) (Declaration, Article 2)

Assessments & dues

Board adopts budget, sets common expense assessment per unit based on square footage ratio (Bylaws, Sections 5.1, 5.2; Declaration, )

Special assessments

Special assessments for capital improvements require approval of majority of unit owners other than Declarant and two-thirds of first mortgage holders; other extraordinary assessments require approval of unit owners holding at least 51% of (Bylaws, Section 5.4; Declaration, Articl)

Collections & liens

Association has a lien on each unit for unpaid assessments; lien may be foreclosed (Bylaws, Sections 5.7, 5.8)

Reserves & fees

Association must maintain a replacement reserve account funded by regular assessments; reserve studies required at least every 5 years (Bylaws, Section 5.3)

Pets

Dogs, cats, or other household pets may be kept subject to rules and regulations; animals, livestock, reptiles, poultry prohibited (Bylaws, Section 7.7(d))

Leasing & rentals

Implied provision for leasing; tenants mentioned in voting and notice sections (Bylaws, Sections 2.11, 6.5)

Maintenance

Roofs are part of general common elements; Association responsible (Declaration, Article 5.3)

Insurance

Property damage insurance on all units and common elements, replacement cost basis (Bylaws, Section 8.1(a))

Use restrictions

Each unit is to be used for primarily residential purposes (Declaration, Article 10)

Voting & meetings

Each unit owner one vote per unit; Declarant has five votes per unit until 75% sold or 3 years after first conveyance (Declaration, Article 8.2; Bylaws, Sectio)

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