Zzparkdevereux

What Zzparkdevereux's governing documents say

Park Devereux is a 46-unit condominium building in downtown Raleigh, NC, governed by a Declaration of Condominium under the North Carolina Condominium Act. This document establishes the condominium, defines unit ownership and common areas, and sets rules for residents and owners. It is relevant to anyone considering buying or renting a unit here.

• What you own & maintain: You own the interior of your unit (bounded by interior surfaces of perimeter walls, ceilings, and floors) and an undivided share of common areas. The association maintains common elements, and you're responsible for your unit's interior and limited common areas like balconies, patios, and assigned storage/parking.
• Leasing & rentals: Leases must be in writing and subject to association rules. There is no stated minimum lease term in this excerpt, but the declaration can be amended to impose leasing restrictions.
• Occupancy limits: No more than two unrelated persons over age 18 may reside in a unit for more than 30 consecutive days in a calendar year.
• Pets: Dogs, cats, or other household pets are allowed but not for commercial purposes. Pets must be leashed when outside your unit.
• Parking & vehicles: Motorcycles, campers, trailers, and similar vehicles cannot be parked on the premises. Trucks are limited to standard 2-ton or smaller pickup trucks. Some parking spaces are assigned as limited common areas.
• Assessments & fees: All unit owners pay annual assessments for common expenses, with a working capital fund collected at closing. Unsold units owned by the declarant are assessed at 25% of full assessment until sold or occupied. Delinquent assessments become a lien on the unit.
• Ground lease: The land is leased (not owned) by the association under a 99-year ground lease, with a renewal option. Unit owners pay their share of ground lease costs through assessments.
• What this document doesn't cover: This excerpt is the Declaration of Condominium; it does not include the full By-Laws or any separate rules and regulations, which may contain additional restrictions on rentals, pets, or other matters.

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.