Olde Wake Forest Homeowners Association Inc

What Olde Wake Forest Homeowners Association Inc's governing documents say

Olde Wake Forest is a planned community of detached single-family homes in Wake Forest, NC, governed by a homeowners association (HOA). This declaration creates the HOA and sets out rules for property use, assessments, and architectural control. It applies to all lot owners, who automatically become members of the association.

• What you own & maintain: You own your lot and home; the association maintains common areas, including stormwater facilities, and may maintain landscaping and sidewalks in public rights-of-way.
• Assessments & fees: Annual assessments start at a maximum of $360 per lot, with automatic increases capped at 10% or CPI (whichever is greater), but not more than 20% per year without member ratification. Special assessments require a 2/3 vote. First purchasers pay an additional reserve contribution equal to two months' assessments.
• Architectural review: An architectural committee (appointed by the declarant while it owns lots, then by the board) must approve external design, appearance, and use changes. Specific rules are in separate Architectural Committee Rules.
• Leasing & rentals: The declaration does not restrict leasing terms or require owner occupancy, but renters must comply with all rules. Owners are responsible for their tenants' conduct.
• Pets: The declaration does not mention pet limits or restrictions; any pet rules would be in the association's rules and regulations.
• Fines & enforcement: The association can fine up to $100 per day for violations, after notice and a hearing. Unpaid fines become a lien on the lot.
• Voting & membership: Each lot gets one vote; the declarant has 10 votes per lot until 95% of lots are sold, 15 years after the first sale, or the declarant relinquishes. Voting rights can be suspended for unpaid assessments.
• What this document doesn't cover: This is the declaration of covenants, conditions, and restrictions. It does not include the full association bylaws, architectural committee rules, or any separate rules about parking, noise, or other day-to-day conduct.

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.