Town Lake Condos

What Town Lake Condos's governing documents say

Town Lake Condos is a 12-unit condominium in Scottsdale, AZ — you own your individual unit and share ownership of common elements. The association maintains common areas and carries master insurance. All units must be used as single-family residences, with specific rules on pets, leasing, parking, and alterations.

• Use & occupancy: Units must be used as single-family residences only. No business, profession, or trade allowed. Temporary structures like tents or trailers cannot be used as residences.
• Pets: A reasonable number of house pets (kept as domestic pets only, not for commercial purposes) are allowed. Dogs must be leashed on common elements and owners must clean up droppings. No pet structures visible from neighboring units; the board can restrict pet numbers.
• Leasing & rentals: Leases must be in writing and require tenants to comply with all governing documents. Unit owners must notify the association of the lease start and end dates. There is no right of first refusal, but no minimum lease term is specified.
• Parking & vehicles: No trucks, trailers, campers, or boats except pickup trucks with camper shells (under 7 ft high) and mini-motor homes (under 7 ft high and 18 ft long). No vehicle repairs except emergencies; inoperable vehicles cannot be stored; the board may tow violators at owner's expense.
• Architectural changes: Prior written approval from the Architectural Committee (the Board) is required for structural alterations, additions, changes to exterior appearance (including signs, window coverings, antennae, satellite dishes generally approved if size and placement are appropriate).
• Assessments & fees: The initial maximum annual common expense assessment is $2,400 per unit. The board may increase it annually by CPI without a vote; larger increases need approval of 2/3 of voting unit owners. Special assessments also require 2/3 vote. Delinquent assessments accrue interest at 18% per year initially.
• Maintenance responsibilities: The association maintains all common elements (including landscaping). Unit owners are responsible for their unit interiors and any limited common elements allocated to them (patios, yards, entryways), which must be kept neat and weed-free.
• Insurance: The association carries property and general liability insurance (minimum $1,000,000 per occurrence) on common elements and units. Unit owners may purchase additional coverage for their personal property and liability. The association also maintains fidelity bonds covering directors, officers, and fund handlers.

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.