Lake Ridge Villas Condominiums
You own a unit plus a share of the common elements; the association maintains the building and grounds.
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What Lake Ridge Villas Condominiums's governing documents say
Lake Ridge Villas is a condominium community in Raleigh, NC, with 63 units in 11 two-story buildings. You own your unit's interior and share ownership of common areas, with the association handling maintenance of shared property and carrying master insurance. This declaration is the full rulebook for owners, covering use restrictions, maintenance duties, and assessments.
- What you own & maintain: You own the interior of your unit (walls, floors, ceilings, doors, windows) and are responsible for its maintenance, including appliances, HVAC, and interior surfaces. The association maintains common areas, roofs, and exterior painting, but you maintain your balcony, patio, or other limited common areas.
- Leasing & rentals: Units are for residential use only; no transient hotel or commercial use. Corporate owners must designate a party in writing, and that party must agree to follow the rules. No minimum lease term is stated in this excerpt.
- Pets: No pet restrictions are mentioned in this excerpt.
- Architectural review: You need written association approval for any structural modification, exterior changes (painting, antennas, AC units), or alterations to common or limited common areas, including fences and landscaping.
- Assessments & fees: The association levies uniform assessments based on your unit's percentage interest in common areas. Assessments are due as determined by the board, and delinquent payments accrue interest and can lead to a lien on your unit.
- Insurance & casualty: The association carries casualty and liability insurance on buildings and common property, paid by assessments. You can buy your own coverage for your unit and belongings. After damage, reconstruction rules apply based on the extent of destruction.
- Use restrictions: Units must be used for lawful residential purposes, and you can't create nuisances or interfere with other owners' enjoyment. The association can enter your unit in emergencies or for maintenance with notice.
- What this document doesn't cover: This excerpt doesn't specify pet limits, lease terms, age restrictions, or parking rules. Those may be in the association's rules and regulations, which are referenced but not included here.
Key facts from Lake Ridge Villas Condominiums's documents
- Community type
- Condominium
- Legal name
- Lake Ridge Homeowners Association, Inc. (Article X.A)
- Developer / declarant
- Third Financial Services, Inc., a Tennessee corporation (Preamble)
- Governing law
- Chapter 47A of the General Statutes of North Carolina (Unit Ownership Act) (Article I)
- Special assessments
- Board may levy additional assessments if it determines assessments insufficient or in emergencies (Article XXIV.C)
- Reserves & fees
- Board may designate sum for capital improvement and replacement fund; maintained in separate account; used only for capital improvements to common property; interest may be used for current operations; each owner deemed to own portion equal (Article XXIV.D)
- Use restrictions
- each unit restricted to residential use by owner, immediate family, guests, invitees, lessees; no transient hotel or commercial purposes (Article XI)
- Amendments
- amendment proposed by Board (majority vote) or members owning majority of units; special meeting called 20-60 days after receipt; notice mailed 10-60 days before meeting; approved by affirmative vote of 75% of members owning units; certifie (Article XXVII.A)
Community amenities
≈ 5 homes
Related associations
Nearby (within 500 m): Raleigh Pine Ridge Townhomes Association Inc · Ashton Square Condominiums
About this HOA
Lake Ridge Villas Condominiums is a homeowners association in Raleigh, NC.
HOAproxy has 3 documents on file for Lake Ridge Villas Condominiums: 3 recorded documents. Last updated 2026-06-15.