The Gray Stone Condominiums

What The Gray Stone Condominiums's governing documents say

The Gray Stone Condominiums is a 12-unit condominium community in Phoenix, AZ, established in 1985 under Arizona's Horizontal Property Regime. You own your unit plus an undivided 1/12 interest in the common elements, and the association maintains the shared areas and carries master insurance funded by assessments. This declaration governs all owners, occupants, and tenants.

• What you own & maintain: You own the interior space of your unit (walls, floors, ceilings finished surfaces) and are responsible for its maintenance, repairs, and interior decorating. The association maintains all common elements (building exterior, grounds, utilities) and carries master property and liability insurance.
• Leasing & rentals: Leases must be in writing, for the entire unit only, and for a minimum term of 30 days. The lease must state it is subject to the condominium documents. Owners remain responsible for rule compliance by tenants.
• Pets: Household pets (dogs, cats, etc.) are allowed subject to uniform association rules, but no animals may be raised, bred, or maintained for commercial purposes.
• Parking & vehicles: Each unit has the exclusive use of one enclosed parking space as shown on the plat. Additional parking is managed by the board. Only licensed, operative passenger automobiles, motorcycles, and pickup trucks (3/4 ton or less) may be parked. No vehicle repair, boats, campers, or trailers are allowed without board approval.
• Use restrictions: Units are for residential use only. No commercial, industrial, or professional operations are permitted (except sales by declarant). No signs are visible from outside without board approval. Owners must avoid nuisances, comply with health laws, and dispose of trash properly.
• Alterations & architectural control: Non-structural interior alterations do not require board approval, but the owner is responsible for any resulting damage. Any structural changes, alterations to common elements, patios, balconies, or exterior changes (including window coverings) require prior written board approval. Patio furniture and approved screens/plants are exceptions.
• Assessments & fees: Each owner pays a proportionate share of common expenses (1/12 per unit). The board sets regular assessments and may levy special assessments (needing 51% owner approval except for emergencies). Late payments incur a $10 charge and 10% annual interest, and create a lien on the unit.
• Insurance: The association carries master property (100% replacement cost), liability ($1M per occurrence), fidelity bond (at least 1.5 times annual budget), and flood insurance if applicable. Owners must insure their own personal property and obtain personal liability coverage. All policies waive subrogation against individual owners.

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.