26 Eldert St Condominium HOA Inc

Key facts from 26 Eldert St Condominium HOA Inc's documents

Reflects the 2018 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Declaration title; Article 5 Name of the)

Governing law

Article 9-B of the Real Property Law of the State of New York (Condominium Act) (Declaration preamble; Article 2)

Assessments & dues

Common Charges allocated pro-rata in accordance with Common Interests (By-Laws Section 6.1; Declaration Article)

Special assessments

Allowed; Condominium Board can levy Special Assessments in accordance with By-Laws Section 6.1(C) (By-Laws Section 6.1(C); Definition of Sp)

Collections & liens

Condominium Board may lien and foreclose for unpaid Common Charges; see By-Laws Section 6.4 (By-Laws Section 6.4 'Default In Payment )

Reserves & fees

Minimum 10% Reserve for Capital Replacement required in each budget (By-Laws Section 2.7 (Sponsor Veto Contro)

Leasing & rentals

Yes (By-Laws Article 7 'Selling and Leasing o)

Maintenance

Condominium Board maintains Common Elements; Unit Owner maintains interior and Limited Common Elements (By-Laws Section 5.1; Article 7)

Use restrictions

Yes; each Unit may be used in accordance with local law and zoning; not more than one family may occupy a Unit at one time (Article 9 Use of Units)

Voting & meetings

Based on Common Interest percentage; each Unit Owner votes proportionally (By-Laws Section 4.8; Exhibit B shows % o)

Amendments

By 66 2/3% vote of Unit Owners; no amendment limiting mortgagee rights; must be recorded (Article 18(a) of Declaration)

Extracted from the recorded governing documents and cited to them; may be incomplete and is not legal advice — verify against the official documents below.