Chesapeake Condominiums

What Chesapeake Condominiums's governing documents say

Chesapeake Condominiums is a condominium community in Cary, NC, where you own your individual unit plus an undivided share of the common property. The association manages the common areas, carries master insurance, and levies assessments on all unit owners. This document is the full declaration of condominium, so it covers ownership structure, use restrictions, maintenance duties, and insurance.

• What you own & maintain: You own the interior of your unit (including interior wall surfaces, floors, ceilings, and attached patios/decks/storage areas), and you're responsible for maintaining all appliances, HVAC, plumbing, and electrical within your unit. The association maintains all common property, including structural elements and shared utilities.
• Leasing & rentals: Leases must be in writing and for at least 30 days. Short-term rentals (transient hotel use) are prohibited. Corporate or partnership owners must designate who may use the unit and ensure compliance with the rules.
• Pets: Dogs, cats, or other household pets are allowed inside units, but not for commercial purposes. Pets must be leashed when on common areas, and the association can prohibit animals in common areas.
• Parking & vehicles: Boats and trailers cannot be parked in common areas except in designated areas. The association can assign parking spaces and charge fees for recreational vehicle storage.
• Architectural review: You need written association approval before making structural changes, exterior alterations (including painting, antennas, or anything protruding through walls/roof), or changing the appearance of common areas or limited common areas (like fences or landscaping).
• Assessments & fees: The association levies assessments based on your unit's percentage interest in common property. Annual assessments can increase up to 12% per year without a membership vote; larger increases require a two-thirds vote. A working capital fund payment equal to two-twelfths of the annual assessment is due at the first sale of each unit.
• Insurance: The association carries casualty insurance on buildings (100% replacement cost) and liability insurance (at least $1 million). Unit owners can buy their own policies for personal property and liability, but must include a waiver of subrogation if available.
• What this document doesn't cover: This excerpt does not include the full bylaws, articles of incorporation, or the detailed survey/plans (Exhibits B and C). It also doesn't specify current assessment amounts, pet size/breed limits, or specific parking rules beyond the basics.

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.