14-16 Olmstead Street Condominium

Key facts from 14-16 Olmstead Street Condominium's documents

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

Community type

Condominium (Section (1) Name)

Legal name

14-16 Olmstead Street Condominium

Governing law

Chapter 183A of the General Laws of the Commonwealth of Massachusetts (Preamble)

Reserves & fees

Trustees shall establish and maintain an adequate reserve fund for periodic maintenance, repair, and replacement of common areas. Initial contribution of at least two months' estimated common area charge per Unit at closing. (Section 13(K))

Pets

Dogs, cats and other common household pets allowed provided they do not interfere with the rights of other Unit Owners and comply with applicable rules and regulations. (Section 8(H))

Leasing & rentals

Leasing allowed subject to conditions in Section 8(B). (Section 8(B))

Parking & vehicles

Common right and easement to use areas designated as 'Asphalt Driveway' and 'Garage' for parking of passenger vehicles. (Section 5(I))

Home business

Incidental professional business purposes allowed if not inconsistent with use as a dwelling. (Section 8(A))

Signs & flags

No exterior sign, banner or other device shall be erected or placed upon or attached to the Building, any Unit, or any part thereof without prior written consent of the Trustees. (Section 8(E))

Insurance

Trustees shall maintain property insurance on the common areas and facilities, and hazard insurance on each unit, as well as a fidelity bond for persons handling funds. (Section 13(F)(i) and (vi))

Use restrictions

Units shall only be used for residential or incidental professional business purposes; shall not be occupied or used for transient, boarding house or hotel purposes. (Section 8(A))

Voting & meetings

Each Unit has beneficial interest in proportion to percentage of undivided interest in common areas (50% each per Exhibit A). When Unit owned by more than one person, they must designate one to vote. (Exhibit A and Section 9(F))

Amendments

This Master Deed may be amended by an instrument in writing (a) signed by owners of at least 51% in beneficial interest, (b) signed and acknowledged by both Trustees, (c) duly recorded within six months. Certain amendments require consent o (Section 9)

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