Gaarde Street Condo

Key facts from Gaarde Street Condo's documents

Reflects the 2008 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Declaration title; Article 1.3)

Legal name

Gaarde Street Condominiums Owners Association (Article 14.1; Bylaws 1.1)

Developer / declarant

Gaarde Street Condominiums, LLC, an Oregon limited liability company (Preamble)

Governing law

Oregon Condominium Act (Preamble, Article 1.8)

Assessments & dues

Board adopts budget and assesses common expenses proportionally (equal per unit, 1/4 each) (Article 8.1; Bylaws 5.1-5.3)

Special assessments

For capital improvements >$20,000 need majority vote; other special assessments may be limited; borrowing >15% of budget requires 75% vote (Bylaws 3.5(k), 3.5(h), 5.4)

Collections & liens

Association has lien for unpaid assessments; may foreclose; priority over first mortgages except as provided (Bylaws 5.8, 5.10)

Reserves & fees

Replacement reserves required; reserve studies required; funds used only for major repairs/replacements (Bylaws 5.6)

Pets

Yes, but subject to restrictions (section "Animals" in Bylaws 7.6(d)) - specific limits not provided in excerpt (Bylaws Table of Contents (Article 7.6(d))

Leasing & rentals

Yes, Bylaws Article 7.7 covers leasing and rental (Bylaws 7.7)

Architectural approval

No additions, alterations, or improvements (except as in maintenance) without written approval of board after providing plans and specifications (Bylaws 7.3)

Signs & flags

No signs except sale/rent signs by owner or real estate agent, and directional signs as allowed by Association (Bylaws 7.6(i))

Use restrictions

Each unit is to be used for residential purposes as described in Bylaws (Article 10; Bylaws 7.6(a))

Voting & meetings

Each unit owner: 1 vote per unit; Declarant: 2 votes per unit until 75% sold or 3 years after first conveyance, whichever occurs first (Article 8.2; Bylaws 2.6)

Amendments

Proposed by board or 30% of owners; approved by 75% of voting rights (excluding Declarant's weighted vote) and Mortgagees as required; Declarant consent required while Declarant owns units; effective upon recordation (Article 15.1-15.4)

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