Colter Run Condominiums

What Colter Run Condominiums's governing documents say

Colter Run Condominiums is an 8-unit condominium community in Phoenix, AZ. You own your unit and share ownership of common elements and limited common elements (e.g., garages, yards, patios). The association maintains common areas and carries master insurance, funded by annual and special assessments on each unit.

• What you own & maintain: You own the interior of your unit (including finished surfaces and non-structural fixtures) and are responsible for maintenance of all interior spaces, windows, doors, HVAC, water heater, and garage. The association maintains common elements and limited common elements like guest parking spaces.
• Assessments & fees: Annual assessments are set by the board and can increase by up to 12% per year (or CPI, whichever is greater) without a member vote; larger increases require 75% approval. Special assessments also require 75% member vote. Late payments incur a 10% late fee and 18% interest per year, and the association has a lien and foreclosure rights.
• Occupancy & use: Units must be used as single-family residences. A single family can be a group of people related by blood, marriage, or adoption, or up to four unrelated adults maintaining a common household.
• Architectural review: Any exterior change or alteration to your unit or limited common elements requires prior written approval from the Architectural Committee. Plans are reviewed for harmony and compatibility; approval is deemed granted if not acted on within 30 days.
• Parking & vehicles: Each unit has a garage (limited common element). Guest parking spaces are designated for temporary use (24 hours or less) by guests of specific units – units 1-4 share Space A, units 5-8 share Space B. Owners cannot use guest spaces.
• Insurance: The association carries general liability insurance ($1M minimum) and property hazard insurance on common elements. Each owner must carry their own all-risk casualty insurance on the unit and any limited common elements, plus personal liability coverage.

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.