Belvedere Gardens Professional Office Condominiums

What Belvedere Gardens Professional Office Condominiums's governing documents say

Belvedere Gardens Professional Office Condominiums is a commercial office condominium in Scottsdale, AZ — you own a professional office unit and a 10% undivided share in the common elements. The association maintains common areas and carries master insurance, funded by per-unit assessments. This document governs the condominium regime and applies to unit owners and their tenants.

• What you own & maintain: Each unit owner owns the interior of their office (including interior surfaces, fixtures, and equipment), and the association maintains the exterior, structural elements, common areas, and shared utilities. Patios, decks, and glass are the owner's responsibility.
• Use restrictions: Units may only be used as professional offices (no residential or other uses). Nuisances, unlawful activities, and uses that increase insurance premiums are prohibited.
• Leasing & rentals: Entire offices may be leased with prior association approval (except leases of one year or less with the developer). Leases must be for the entire office, and occupancy limited to the lessee, employees, and clients. The association has a right of first refusal on lease transfers.
• Transfer & approval: Sales, leases, gifts, and other transfers require association approval. For sales, the association may find an alternative purchaser at fair market value if it disapproves the proposed buyer. Mortgages to banks, life insurance companies, or savings and loans are exempt from approval.
• Assessments & fees: Each owner pays a proportionate share of common expenses (10% per unit). Assessments unpaid after 10 days bear 12% annual interest. The association has a lien for unpaid assessments, including attorneys' fees.
• Insurance: The association carries casualty insurance on buildings and personal property, and liability insurance. Proceeds are held by a trustee for restoration, with owners contributing any shortfall via assessment.
• Alterations & improvements: Structural alterations or changes to common elements require approval of 70% of owners (or all affected owners). Unit owners must get association approval for any modifications to exterior or structural parts, and submit architect-stamped plans.
• Parking: Parking spaces are unassigned and available to all owners, tenants, and guests. The association may assign specific spaces as limited common elements upon request.

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.