Gaarde Street Condo

Key facts from Gaarde Street Condo's documents

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

Community type

condominium (Declaration title; Article 1.3)

Legal name

Gaarde Street Condominiums Owners Association (Article 14.1; Bylaws 1.1)

Developer / declarant

Gaarde Street Condominiums, LLC, an Oregon limited liability company (Preamble)

Governing law

Oregon Condominium Act (Preamble, Article 1.8)

Assessments & dues

Board adopts budget and assesses common expenses proportionally (equal per unit, 1/4 each) (Article 8.1; Bylaws 5.1-5.3)

Special assessments

For capital improvements >$20,000 need majority vote; other special assessments may be limited; borrowing >15% of budget requires 75% vote (Bylaws 3.5(k), 3.5(h), 5.4)

Collections & liens

Association has lien for unpaid assessments; may foreclose; priority over first mortgages except as provided (Bylaws 5.8, 5.10)

Reserves & fees

Replacement reserves required; reserve studies required; funds used only for major repairs/replacements (Bylaws 5.6)

Pets

Yes, but subject to restrictions (section "Animals" in Bylaws 7.6(d)) - specific limits not provided in excerpt (Bylaws Table of Contents (Article 7.6(d))

Leasing & rentals

Yes, Bylaws Article 7.7 covers leasing and rental (Bylaws 7.7)

Use restrictions

Each unit is to be used for residential purposes as described in Bylaws (Article 10; Bylaws 7.6(a))

Voting & meetings

Each unit owner: 1 vote per unit; Declarant: 2 votes per unit until 75% sold or 3 years after first conveyance, whichever occurs first (Article 8.2; Bylaws 2.6)

Amendments

Proposed by board or 30% of owners; approved by 75% of voting rights (excluding Declarant's weighted vote) and Mortgagees as required; Declarant consent required while Declarant owns units; effective upon recordation (Article 15.1-15.4)

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