The Nikolai Condominium Unit Owners' Association

Key facts from The Nikolai Condominium Unit Owners' Association's documents

Legal name

The Nikolai Condominium Unit Owners' Association, Inc. (Article I(C))

Governing law

Ohio Revised Code Chapter 5311 (Condominium Property Act) (Preamble (WHEREAS) and Article I(A))

Assessments & dues

Based on Undivided Interest in Common Elements, which is proportionate to square footage of each Unit relative to aggregate square footage; also certain Common Expenses may be divided equally per unit per Ohio Rev. Code §5311.041 (Article V(B) and Article II(C)(5))

Special assessments

The Board may determine amounts for reserve fund and for Common Expenses; special assessments not separately titled but implied (Article V(A) (reserve fund))

Reserves & fees

Board may establish and maintain a reserve fund for repair and replacement of Common Elements (Article V(A))

Pets

Yes – Article VII(J) 'Pets' implies pets are allowed subject to Rules (Article VII(J))

Leasing & rentals

Yes – Unit Owner's right to lease Units (Article XV(B)) (Article XV(B))

Parking & vehicles

Parking spaces assigned as Exclusive Use Areas; garage parking for Units 5 and 6 (two spaces), Units 3 and 4 (one garage), Units 1 and 2 (at least one outdoor); Board may reassign outdoor parking spaces; additional parking may be fee-based (Article II(C)(3))

Signs & flags

Association may regulate signs; Declarant may maintain sales signs; specific rules not detailed (Article VII(Q) and Article III(G) (Decla)

Insurance

Deductible not to exceed lesser of $10,000 or 1% of policy amount; deductible treated as Common Expense unless caused by negligence of Unit Owner or occupants (Article VI(A)(1)(c))

Amendments

Amendment of Declaration covered in Article XI; requires procedure in accordance with Ohio Condominium Act; special amendment provision in Article XI(B) and declaratory judgment in (C) (Article XI (A), (B), (C))

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