Velo Homeowners Association

Key facts from Velo Homeowners Association's documents

Reflects the 2020 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Covenant / Planned Community

Legal name

Velo Homeowners Association

Units / lots

21 Lots (WHEREAS, Page 1)

Developer / declarant

Rembrey Construction and Development, LLC, a South Carolina limited liability company, Builder and Velo Development, LLC, a South Carolina limited liability company, Developer (Preamble, Page 1)

Assessments & dues

Maximum monthly assessment initially is $0.00 until December 31 of the calendar year following conveyance of first Lot to another Owner. (Article V, Section 3)

Special assessments

May be levied for capital improvements, requiring same 67% vote as increase beyond maximum. (Article V, Section 4)

Reserves & fees

Association shall establish and maintain an adequate reserve fund for periodic maintenance, repair, and replacement of Common Areas, funded from annual assessments. (Article IV, Section 7)

Pets

Reasonable number of dogs, cats, or other small indoor household pets (e.g., parakeets, fish, hamsters, gerbils) may be kept, but not for commercial purposes. (Article IX, Section 13)

Parking & vehicles

Boats, jet skis, boat trailers, motor homes, and similar equipment may not be kept, stored, or parked overnight on any street or Lot. (Article IX, Section 21)

Fences

Underground fencing may be installed. Aluminum fencing allowed but must be approved by Architectural Review Board. Replacement must be similar style and approved by HOA. No outdoor fencing or dog kennels permitted. No fence type other than (Article IX, Sections 16 and 13)

Architectural approval

Committee must approve or disapprove within 45 days of receipt of complete plans; failure to do so deems approval, except if plans contain erroneous data or inadequate information. (Article VII, Section 5)

Home business

Business or business activity other than a home office is prohibited, provided no outside traffic or advertising. (Article IX, Section 1)

Setbacks / home size

Structures must be situated in accordance with building and setback lines shown on recorded Plats. (Article IX, Section 2)

Maintenance

Not explicitly allocated; general maintenance of dwelling by Owner would include roof. Association does not explicitly cover roof. (Article IX, Section 18 (general maintena)

Use restrictions

All Lots shall be used for single-family residential purposes only. (Article IX, Section 1)

Voting & meetings

Two classes of Lots: Class A (one vote per Lot) and Class B (three votes per Lot owned by Declarant). Class B converts to Class A when total Class A votes equal Class B votes. (Article IV, Section 2)

Amendments

May be amended by Declarant while it owns any Lots and has not transferred Common Area; after transfer, amendment requires 75% of Lots' Owners. (Article X, Section 3)

Amenities

Common amenities may include entrance walls, signage, lighting, landscaping, hardscaping, landscape furniture, parks, greenways, playgrounds, sidewalks, common walks, signs, picnic areas, irrigation systems, storm water and drainage easemen (Article IV, Section 5)

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