North Pier Condo

What North Pier Condo's governing documents say

North Pier Condo is a 40-unit condominium in Carolina Beach, NC. You own your unit and share ownership of common elements, which the association maintains and insures. This declaration replaces older governing documents and sets rules for use, assessments, and rentals.

• What you own & maintain: You own your unit's interior, exterior doors, windows, porches, patios, screens, HVAC, and exterior light fixtures. The association maintains all common elements, including roofs, foundations, exterior painting, and structural components.
• Leasing & rentals: Short-term rentals are allowed with a minimum stay of 2 nights. During the Declarant Control Period, you must use a Declarant-approved property manager; after that, a Board-approved manager. Self-management is prohibited.
• Assessments & fees: Annual assessments are set by the Board and based on your unit's square footage. A capital reserve fund of at least 10% of annual assessments is required. Special assessments need 2/3 owner vote. New owners pay 2 months' assessments as working capital plus a $200 transfer fee. Late payments incur 10% or $20 (whichever higher) and 18% annual interest.
• Architectural review: Any exterior changes (buildings, fences, windows, decks) require prior Board approval. Plans must be submitted; if no response in 30 days, approval is deemed given. Specific units have allowances for adding windows or filling deck boards if all affected units participate and match existing style.
• Insurance: The association carries property, flood, general liability ($1M per occurrence), and fidelity insurance. Each owner must maintain liability insurance of at least $100,000 per occurrence and may insure personal property and improvements.
• Use restrictions: Units are for residential use only. No unit may be subdivided. Owners cannot remove or alter interior partitions between adjoining units without Board approval.
• Parking: Each unit is allocated 2 parking spaces as a limited common element.

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.