Nicholas Point

What Nicholas Point's governing documents say

Nicholas Point is a planned residential community in Chandler, AZ, governed by a homeowners' association (HOA). The community consists of individually owned lots (likely townhomes with party walls) and shared common areas. This declaration of covenants, conditions, and restrictions (CC&Rs) establishes the HOA's authority, owners' rights and duties, and rules for the community. It is binding on all owners, occupants, and future buyers.

• What you own & maintain: You own your lot and residence and are responsible for all maintenance, repairs, and replacements on your lot. The association maintains the common areas, landscaping within rights-of-way, and public yards (the front yard area between the street and your home).
• Assessments & fees: Owners pay an annual assessment for common expenses, initially capped at $1,140 per year ($95/month) for the first year. After that, the board can increase assessments annually by up to 10% or the CPI increase, whichever is greater. Special assessments require a two-thirds vote of each membership class (owners and designated builder). A capital contribution equal to two months' assessments is due at purchase from the builder.
• Membership & voting: There are two classes of membership: Class A (all owners except the builder) with one vote per lot, and Class B (the designated builder) with three votes per lot owned. The builder controls the board initially; Class B membership terminates after five years or when Class A votes exceed Class B.
• Party walls: If your lot shares a wall with a neighbor, you share the cost of reasonable maintenance and repairs proportionally. If a party wall is destroyed, the owner who caused the damage bears the full cost of restoration. Disputes are decided by the board.
• Insurance: The association carries multi-peril property insurance on common areas, liability insurance (minimum $1 million per occurrence), and fidelity coverage. Owners must insure their own dwelling contents, additions, and personal liability. Insurance proceeds for common-area damage are held in trust and used for restoration unless two-thirds of owners and first mortgagees vote not to rebuild.
• Leasing & rentals: The document does not explicitly mention lease restrictions, but note that the association's rules and regulations may impose requirements. This excerpt does not contain a minimum lease term or pet policy.
• Architectural review: The document does not detail architectural review procedures, but it states that alterations to public yards require board approval. The association may adopt rules and regulations governing modifications.
• What this document doesn't cover: This excerpt does not specify age restrictions, pet limits, parking rules, or specific architectural guidelines. It also does not list common amenities (pool, clubhouse, etc.) as the full declaration is not included.

Plain-language summary generated from the governing documents on file for this community. It may be incomplete and is not legal advice — read the full documents below or consult the official recorded versions.