14 Elener Lane Condominium

Key facts from 14 Elener Lane Condominium's documents

Community type

Condominium (14 ELENER LANE CONDOMINIUM, page 1)

Legal name

14 ELENER LANE CONDOMINIUM

Developer / declarant

14 ELENER LANE LLC

Governing law

Article 9-B of the Real Property Law of the State of New York (Condominium Act) (PURSUANT TO ARTICLE 9-B OF THE REAL PROP)

Assessments & dues

Condominium Board prepares and adopts an annual budget, determines Common Expenses, and allocates Common Charges to Unit Owners pro-rata based on their Common Interests. (Section 6.1, pages 45-46)

Special assessments

Board may levy Special Assessments for uninsured casualty deficiencies, and for other purposes subject to approval requirements (Sponsor consent or 75% Unit Owner approval for certain reserve increases). (Definition 32, Section 5.5(C), Section 2)

Leasing & rentals

Yes, subject to restrictions including right of first refusal and prohibition of transient occupants. (Article 7 (Governing and Leasing of Unit)

Parking & vehicles

Two parking spaces per Unit, located adjacent to the Unit entry, designated as Limited Common Elements. (Section 8(a) and Section 5.8(C), pages 5)

Architectural approval

Board approval required for alterations, additions, or improvements to any part of the property allocated to a Unit; structural work costing over $5,000 requires approval of all Unit Owners and Mortgage Representatives. (Section 9(b) and Section 5.3, pages 5 an)

Home business

Any Unit may be partially used as a professional office by the owner of such unit only. (Section 5.7(A), page 42)

Maintenance

Unit owners responsible for interior maintenance, repairs, replacements (interior walls, ceilings, floors, fixtures, appliances, windows, doors, exposed plumbing, etc.). Board responsible for Common Elements. If work necessitated by conditi (Section 5.1, pages 36-37)

Insurance

Deductible amounts determined by Board; reviewed at least annually. (Section 5.4(C), page 40)

Use restrictions

Units may be used in accordance with local law and Certificate of Occupancy; partial professional office allowed by owner-occupant. (Section 5.7, page 42)

Voting & meetings

Each Unit Owner casts one vote per Unit owned. In Board elections, each Unit Owner elects one Board Member. Sponsor has additional voting rights while owning Unsold Units. (Section 4.9(A), page 36)

Amendments

Requires consent of all Unit Owners, with exceptions: mortgagee consent required for changes affecting mortgage liens or increasing assessments by >25%; material amendments require approval of eligible mortgage holders representing at least (Article 19, pages 9-10)

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