Hangars at the Pegasus Condominium

What Hangars at the Pegasus Condominium's governing documents say

Hangars At The Pegasus Condominium is a non-residential condominium community in Queen Creek, AZ, designed for aircraft storage and repair. You own a hangar unit and an undivided share of common elements; the association maintains the common areas and carries master insurance. Owners must also be members of the Pegasus Airpark Flight Association. This is not a home — it's a storage/workspace for aircraft and vehicles.

• What you own & maintain: You own your hangar unit (aircraft storage space) and are responsible for its interior, hangar door, and any exclusive equipment (motors, seals, etc.). The association maintains all common elements (land, roofs, foundations, parking areas, etc.) and may separately assess maintenance of limited common elements (e.g., hangar doors).
• Permitted use: Units may only be used for aircraft storage and repair, plus storage/repair of recreational vehicles, boats, or motor homes if allowed by Board rules. No residential, commercial (beyond repair), or temporary structures are allowed. All uses must comply with the Town of Queen Creek Special Use Permit and FAA regulations.
• Leasing & rentals: Leases must be in writing and expressly subject to the governing documents. There is no minimum lease term stated. Lessees must comply with all rules; violations by a tenant are grounds for enforcement against the owner.
• Assessments & fees: Monthly common expense assessments are based on each unit's percentage of undivided interest. Late charges up to 25% and 12% annual interest apply. Special assessments (e.g., for capital repairs) require a 67% vote of members present at a meeting with a 60% quorum. Unpaid assessments become a lien on the unit.
• Insurance: The association carries master casualty insurance (replacement cost on common elements and units) and liability insurance (at least $1 million per occurrence). Each owner must insure their own personal property, improvements, and liability.
• Architectural control: No alterations to common elements or limited common elements without Board approval. Non-structural interior changes (within unit) do not require approval, but structural alterations need majority owner vote. All exterior changes, lighting, antennas, and signs require prior written consent.
• Parking & vehicles: Parking spaces are common elements managed by the Board. The Board may prohibit parking or storage of any vehicle, trailer, or boat deemed unsightly or detrimental. No temporary structures or trailers allowed without Board consent.
• Membership in Flight Association: Every owner must be a member of the Pegasus Airpark Flight Association and comply with its rules, regulations, and assessments. Failure to do so can result in suspension or termination of condominium membership.

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.