Lakewood Ranches Property Owners Association

Key facts from Lakewood Ranches Property Owners Association's documents

Reflects the 2023 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Residential planned community governed by a homeowners association (WHEREAS clauses, Art. I)

Developer / declarant

Lakewood Ranches Property Owners Association, Inc., a Tennessee not for profit corporation and its predecessors in title (Opening paragraph)

Governing law

Tennessee (no specific statute cited) (State of Tennessee in heading)

Assessments & dues

Maximum $500 per residential parcel per year until January 1 after formation of Owners' Association. Thereafter may be increased. (Section 4.06)

Special assessments

Permitted for capital improvements and other purposes as stated in the Covenants. (Section 4.01(2))

Collections & liens

Unpaid assessments become a lien on the parcel. Association may file lien statement with Register's Office of Humphreys County, TN. After 30 days notice, may foreclose in same manner as mortgage foreclosure under Tennessee statutes. Also ca (Sections 4.01, 4.03(f))

Reserves & fees

At least 15% per delinquency for unpaid assessments. (Section 4.03(a))

Pets

Yes. (Section 8.09)

Leasing & rentals

Yes. (Section 8.24)

Parking & vehicles

Commercial vehicles (with lettering/logos), tractors, motor homes, trailers, campers, boats, boat trailers, unregistered vehicles must be parked out of sight from servicing road/driveway unless permitted by Board. (Section 8.02.4(b))

Architectural approval

Any construction, reconstruction, refinishing, alteration of exterior of any building or improvement requires prior ARC approval. Interior alterations not requiring approval. (Sections 6.02.2, 7.02)

Home business

Allowed if subordinate to primary residential use, occupies ≤20% of floor area, employs ≤2 persons. (Section 8.01)

Signs & flags

ARC may adopt rules on color, location, nature, size. ARC may remove signs placed in violation without liability. (Section 8.04)

Setbacks / home size

30 ft from county/LWR-maintained road right-of-way and common drive easements. Also setback line must be at point where parcel width minimum 100 ft. 15 ft from side and rear boundary lines. (Section 8.25)

Maintenance

Association maintains common areas, private roads, signs, entrance area (funded by assessments). Owner maintains parcel, all structures, landscaping, parking areas, etc. on their parcel. Association may assume maintenance if owner fails aft (Sections 10.01, 10.02)

Use restrictions

Parcels shall be used for single family residential purposes only. Rental for private residential purposes is allowed. Home occupations subordinate to residential use, occupying not greater than 20% of dwelling floor area or employing no mo (Section 8.01)

Voting & meetings

One vote per parcel. Joint owners cast one vote. An entity owning multiple parcels gets one vote per parcel. Voting may be in person or by absentee ballot (the only allowed proxy). (Sections 3.02(a), 2.01)

Amendments

Not fully detailed in this excerpt; but references to meetings and voting indicate amendments require member vote. Specifics not provided. (Sections 4.06(b) (assessment increase by)

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