Hills at Southpoint Community Association Inc The

What Hills at Southpoint Community Association Inc The's governing documents say

This is a declaration of restrictive covenants for an affordable housing rental property in Durham, NC, binding the property owner (New Southpoint Glen, LLC) to income and rent restrictions. It is not a typical HOA or condo rulebook; it governs the landlord's obligations to keep units affordable for low- and moderate-income tenants.

• Affordability: 100% of available units must be occupied by households earning no more than 60% (low income) or 80% (moderate income) of the area median income, and rents must be affordable to those tenants.
• Income certification & recertification: The owner must verify tenant income before move-in and annually recertify; if a tenant's income exceeds 140% of the low-income limit, the lease may not be renewed and rent may increase after 30 days' notice.
• Term & termination: The restrictions run for 10 years from the effective date, renewing annually, and can terminate early upon foreclosure, certain casualties, loss of tax exemption, or at the owner's election.
• Enforcement: Only the owner is bound; tenants and the public have no right to enforce these covenants.
• What this document doesn't cover: This document does not contain typical HOA rules like pet limits, leasing terms, architectural review, or maintenance duties. It only addresses income and rent restrictions for the rental property.

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.