Market Plaza Condominium

What Market Plaza Condominium's governing documents say

Market Plaza is a condominium community in Raleigh, NC, where you own your individual unit plus an undivided share of the common areas. The association manages the property, maintains common elements, and carries master insurance, funded by assessments on all unit owners. This document is the full declaration of condominium, so it sets out the basic rules and responsibilities for living here.

• What you own & maintain: You own your unit's interior (walls, floors, ceilings, systems) and must maintain it, including exterior doors, windows, and storefront glass. The association maintains common areas, roofs, and exterior painting, but you're responsible for any limited common areas (like porches or loading areas) assigned to your unit.
• Leasing & rentals: You may lease your unit, but all leases must be in writing, must state they're subject to the declaration and bylaws, and must be filed with the association. There's no minimum lease term stated in this excerpt.
• Alterations & approvals: You need written association approval for any structural changes, exterior alterations (including painting, antennas, or AC units), or changes to common or limited common areas. The board can withhold approval if changes aren't harmonious with the existing appearance.
• Assessments & fees: The association can levy assessments on all unit owners, based on your percentage interest in common areas. Assessments cover common expenses, including insurance, maintenance, and reserves. The board can also levy special assessments for capital improvements or emergencies.
• Insurance & casualty: The association carries casualty and liability insurance on the buildings and common areas. If there's damage, the association decides whether to rebuild, and you may be assessed for any insurance deductible or shortfall. You can buy your own insurance for your unit and personal property.
• Use & conduct: Units must be used for lawful purposes, and you can't create nuisances or interfere with other owners' enjoyment. The association can make rules about common area use, including parking assignments.
• Right of entry: The association can enter your unit in emergencies without notice, and with reasonable notice for maintenance of common areas. You must allow access when needed.
• What this document doesn't cover: This excerpt doesn't include specific pet rules, age restrictions, or lease term minimums. It also doesn't state the exact assessment amounts or the number of units. Those details would be in the full declaration, bylaws, or 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.