Waterford Place Townhouse Homeowners Association

What Waterford Place Townhouse Homeowners Association's governing documents say

Waterford Place is a townhome community in Cary, NC, governed by a homeowners association (HOA). These are the association's bylaws and charter, which set out how the HOA is run—meetings, voting, board structure, and finances. They apply to all owners and tenants, but they don't contain the full set of property rules; those are in the separate Declaration of Covenants, Conditions and Restrictions.

• What this document covers: These are the HOA's bylaws and charter, covering internal governance: membership, voting, board of directors, officers, meetings, and fiscal management. They don't list day-to-day property rules like pet limits or lease terms.
• Who is bound: All present or future owners, tenants, and anyone using the townhouses or facilities must follow these rules. The HOA manages the community and can make and enforce regulations.
• Membership & voting: Every owner of a lot subject to assessment is a member, with one vote per lot. If a lot has multiple owners, they must file a certificate naming who votes. Proxies are allowed only for a specific meeting.
• Meetings & quorum: Annual meetings are held in the second quarter. A quorum is a majority of all votes. Special meetings can be called by the president, a majority of the board, or owners of a majority of townhouses. Notice must be given 10–60 days in advance.
• Board of directors: The board has 3–9 members, elected for two-year staggered terms. Directors are elected by plurality vote, with each townhouse having as many votes as directors to be elected, but no cumulative voting. Vacancies are filled by remaining directors until the next annual meeting.
• Assessments & finances: The board sets an annual budget and levies assessments on owners. Unpaid assessments become a lien on the unit after 30 days' notice, and the HOA can foreclose or sue. The board can also levy additional assessments if needed.
• Rules of conduct: Owners and tenants must avoid noise that disturbs others, dispose of trash properly, and use units only for residential purposes. Exterior changes (painting, antennas, fences, landscaping) need prior written permission from the board or an architectural committee.
• Amendments: Bylaws can be amended with approval of a majority of the board and 75% of all owners. Amendments must be recorded to take effect.

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.