Finley Forest

What Finley Forest's governing documents say

Finley Forest is a condominium community in Chapel Hill, NC, where you own your individual unit plus an undivided share of the common areas. The association (Finley Forest Condominium Association, Inc.) manages the property, maintains common elements, and sets rules. This declaration is the governing rulebook for unit owners, and it also outlines the developer's right to expand the community.

• What you own & maintain: You own the interior of your unit (including exterior doors, windows, and decks), and you're responsible for maintaining everything inside your unit, including appliances, plumbing, and electrical systems that serve only your unit. The association maintains all common property, including exterior surfaces, common utilities, and the light fixtures and hose bibs on certain units.
• Leasing & rentals: Leases must be in writing, on an association-approved form, and for a term of at least six months. Short-term or transient rentals (like Airbnb) are prohibited. Leases must include a provision that the tenant agrees to follow the declaration and association rules.
• Architectural review: You need written association approval before making any structural modifications or exterior changes (including painting, installing antennas, or adding fences). The association charges a $35 review fee (or as determined by the board) and may require you to maintain and insure approved alterations.
• Assessments & fees: The association levies assessments on each unit, payable monthly, based on your unit's undivided interest in the common property. Special assessments for capital improvements require approval by two-thirds of unit owners. A working capital fund is established, and at the first sale of each unit, the purchaser pays an amount equal to two-twelfths of the current annual assessment.
• Parking & vehicles: The association has the exclusive right to assign parking spaces and make rules about common property use. Operative campers and recreational vehicles may be parked or stored only in designated areas, at the board's discretion.
• Pets: This document does not mention any pet restrictions or allowances.
• What this document doesn't cover: This excerpt does not include the full bylaws, rules and regulations, or the exhibits (like floor plans and percentage interests). It also doesn't specify current assessment amounts, pet rules, or age restrictions. For those details, you'd need to review the complete declaration and association rules.

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.