Cornerstone Villas Condominiums

What Cornerstone Villas Condominiums's governing documents say

Cornerstone Villas is a condominium community in Fountain Hills, AZ — you own your individual unit and share ownership of the building's common elements. The association maintains the common areas and carries master insurance, funded by per-unit assessments. There are 18 units initially, with a possible expansion to up to 48 units. This document is the full Condominium Declaration (the rulebook for owners).

• What you own & maintain: You own the interior of your unit (walls, floors, ceiling finishes) and are responsible for its maintenance. Limited common elements like patios/balconies are allocated to your unit and you must maintain them (except structural parts). The association maintains all common elements and structural parts of limited common elements.
• Leasing & rentals: You may lease your entire unit (not just a room) under a written lease that requires the tenant to follow all condominium documents. The lease term is not restricted by the declaration, but you must notify the association of the lease start/end dates and tenant names. Leases are not permitted to be shorter than the initial sale period? (No minimum term stated; only restriction is that you must lease the whole unit).
• Pets: Only one household pet (dog or cat) is allowed per unit, weighing no more than 20 pounds. Pets must be registered with the association, kept on a leash no longer than 6 feet when outside the unit, and owners must immediately clean up droppings. No pets allowed for lessees or invitees — only unit owners may have pets. The board may restrict pets to certain areas and limit size/number.
• Architectural review: An Architectural Committee (appointed by the board) must approve any structural changes, alterations visible from outside the unit, solar devices, satellite dishes, window coverings, and outdoor lighting. Nonstructural interior changes do not require approval, but you are responsible for any damage caused.
• Parking & vehicles: Parking is allowed only in designated spaces. No commercial vehicles (trucks over 3/4 ton capacity, buses, vans) except for temporary parking. No inoperable vehicles or vehicle repairs visible from neighboring property. The board may tow violators at the owner's expense and adopt parking rules.
• Assessments & fees: All units pay equal common expense assessments (1/18 each initially). Maximum annual assessment started at $1,500 per unit; the board may increase it by the CPI each year (without a vote), and larger increases require a 2/3 vote of owners. Special assessments for capital improvements also need 2/3 approval. Late payments incur interest (12% per annum) and a $10 late fee. Assessments are secured by a lien on the unit.
• Use restrictions: Units are for single-family residential use only — no businesses, home occupations, or commercial activity. No nuisances, loud noises, or offensive activities. No skateboards on the property. No clotheslines, reflective window materials, or exterior speakers without approval. Trash must be in covered containers. All residents must comply with the Fountain Hills restrictions (a separate recorded declaration) — the more restrictive rule governs.

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.