Forest Hills Urban Lofts

What Forest Hills Urban Lofts's governing documents say

Forest Hills Urban Lofts is a condominium community in Wilmington, NC — you own your unit and share ownership of the building's common elements, which the association maintains and insures. The community includes one commercial unit and multiple residential units, with a second phase planned. This declaration governs all unit owners, their tenants, and guests.

• What you own & maintain: You own the interior surfaces of your unit's walls, ceilings, and floors. The association maintains all common elements (including limited common elements like HVAC systems serving only your unit) and carries master property and liability insurance.
• Leasing & rentals: Leases must be in writing, for at least 90 days, and require tenants to follow the declaration, bylaws, and rules. No hotel or transient use is allowed.
• Pets: Usual domesticated pets are allowed, but wild or exotic animals are not. Pets must be leashed when outside and must not create nuisance noise.
• Occupancy limits: Maximum occupants per unit is the number of bedrooms (as originally designed) times two, regardless of age.
• Assessments & fees: Regular assessments are based on each unit's square footage. Special assessments require a 2/3 vote of all units. Initial assessment equals 3 months' regular assessment, due at first closing. Late fees and 12% annual interest apply to overdue amounts. Fines for violations cannot exceed $150 per occurrence.
• Use restrictions: Residential units are for residential use only; home occupations are allowed only if they involve no public visits or increased common element use. Commercial unit uses must comply with city zoning. No unit may be subdivided. Window coverings must appear white or off-white from outside. No signs may be displayed on or from any unit.
• Development rights: The developer reserved the right to add a second phase (up to 15 additional units) within 5 years of the declaration's recording, with buildings similar to Phase I. The developer also has special rights to maintain a sales office, signs, and easements during that period.

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.