Gresham Trace Homeowners Association Inc

What Gresham Trace Homeowners Association Inc's governing documents say

Gresham Trace is a single-family home HOA in Raleigh, NC, created by the developer M/I Schottenstein Homes. This declaration sets out the rules and obligations for homeowners, including mandatory HOA membership, assessments, and architectural review. It applies to all current and future owners of lots within the community.

• HOA membership & voting: Every lot owner is automatically a member of the HOA. Each lot gets one vote, but the developer holds three votes per unsold lot until the developer's voting power is balanced or until December 31, 2002. If owners of vacant or leased homes vote as a block, their combined vote cannot exceed 49%.
• Assessments & fees: The HOA charges annual and special assessments to cover common area maintenance, insurance, and other community needs. The initial maximum annual assessment was $120 per lot ($10/month), and it can increase up to 10% per year without a vote, or more with a two-thirds vote. Unpaid assessments accrue late fees and interest, and become a lien on the property.
• Common area use & maintenance: Owners have a right to use the common areas, but the HOA can charge fees for certain facilities and can suspend voting rights for unpaid assessments or rule violations. Owners cannot alter common areas (e.g., remove trees, build fences, or plant vegetation) without HOA approval. The HOA must maintain common areas and carry at least $1,000,000 in liability insurance.
• Architectural review: Before making any exterior changes—including buildings, fences, walls, or major landscaping—owners must submit plans to the developer (or later the HOA) for written approval. If no response is given within 30 days, approval is assumed. The review can charge a fee up to $75 and may impose design guidelines.
• Leasing & rentals: The declaration does not restrict leasing, but it notes that owners who lease their homes have reduced voting power if they vote as a block. Tenants are allowed to use common areas as long as they occupy the home as their principal residence.
• What this document doesn't cover: This excerpt does not include details on pet rules, parking, noise, or other typical HOA restrictions. It also does not specify the current assessment amount or any amenities like pools or clubhouses.

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.