Airlie Place

What Airlie Place's governing documents say

Airlie Place is a townhome community in Wilmington, NC, governed by a homeowners association (HOA). Each owner holds fee simple title to their lot and townhouse unit, and shares ownership of common areas. The HOA maintains exterior surfaces and limited common areas, and owners must carry their own property insurance on their units.

• What you own & maintain: You own your lot and townhouse unit in fee simple. The Association maintains the exterior surfaces (roof, siding, gutters, decks, patios, landscaping, driveways, parking areas) and limited common areas, but not glass surfaces. Owners are responsible for interior maintenance and must insure their unit against fire and other hazards at 100% replacement cost.
• Assessments & fees: Annual assessments start at a maximum of $250 per lot (1985 figure) and can increase up to 10% per year without a membership vote; increases above 10% require a two-thirds vote of each membership class. Special assessments for capital improvements also require a two-thirds vote. A working capital assessment equal to two months' estimated common area expenses is due at closing. Delinquent assessments bear 18% annual interest and become a lien on the property.
• Leasing & rentals: Leases must be in writing and expressly subject to the Declaration, Articles, Bylaws, and rules. Owners remain fully responsible for compliance and must take action to remove tenants who violate rules. The Association may recommend rental agents but cannot control rental periods or fees. There is no minimum lease term stated in this document.
• Architectural review: No exterior structure, addition, or alteration may be made without prior written approval from the Board or an architectural committee. Plans must be submitted; if no decision is made within 30 days, approval is deemed granted.
• Parking & vehicles: Parking is limited to spaces designated on the phase map as limited common area for each unit. No owner may park except in their assigned space.
• Insurance: Each owner must insure their unit (excluding personal property) at 100% replacement cost and provide proof to the Board. If an owner fails to insure, the Board may obtain insurance and assess the cost. The Association carries liability and common area insurance, and must maintain fidelity bonds for those handling funds.
• What this document doesn't cover: This excerpt does not specify pet restrictions, age restrictions, rental caps, or rules about noise, trash, or other day-to-day conduct. Those may be in the Bylaws or separate 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.