Parkside Condominium (NC)

What Parkside Condominium (NC)'s governing documents say

Parkside Condominium is a condominium community in Raleigh, NC, established in 1984 under the North Carolina Unit Ownership Act. It consists of a 24-unit three-story building (Phase I) with a possible Phase II of up to 18 additional units. This document is the Declaration of Condominium, which sets out the rules and structure for unit owners, the association, and the property.

• What you own & maintain: You own your unit's interior (including interior walls and finishes) and an undivided interest in the common areas. The association maintains and repairs common areas, while you are responsible for maintaining your unit, including its heating and air-conditioning systems that serve only your unit.
• Common areas & limited common areas: Common areas include the land, structural elements, roofs, exterior walls, stairs, parking areas, and utility lines. Limited common areas (like balconies, patios, or storage rooms) are for your exclusive use, but the association still maintains and controls their exterior appearance.
• Assessments & fees: You must pay monthly common expense assessments, which fund maintenance, insurance, and reserves. Special assessments can be levied with approval of 51% of unit owners. The association also collects a working capital fund equal to three months of assessments at the time of your initial purchase.
• Insurance: The association carries master fire, liability, fidelity, and flood insurance (if applicable) on the buildings and common areas. You are responsible for insuring your own personal property and any improvements inside your unit.
• Leasing & rentals: The declaration does not specify lease terms or rental restrictions, but all tenants must comply with the declaration, bylaws, and rules. The association can adopt rules governing leasing.
• Pets: The declaration does not mention pet restrictions. Pet rules may be set by the association's board.
• Parking & vehicles: Parking areas are common areas, and the board may assign specific spaces to units. Rules regarding parking can be established by the board.
• Alterations & approvals: You must obtain prior written consent from the board before making any structural addition, alteration, or improvement to your unit. The board can also enter your unit for emergencies or to maintain common elements.

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.