Centrum Condo

What Centrum Condo's governing documents say

The Centrum Tower is a condominium within the larger Centrum Master Condominium in Dallas, TX. This document, the Amended and Restated Residential Condominium Declaration, establishes the rules for the residential tower and applies to unit owners and their tenants. It covers permitted uses, leasing restrictions, parking and storage allocations, maintenance responsibilities, and assessment obligations.

• Permitted use & occupancy: Each residence may be used only for single-family residential purposes, except as permitted for the developer's sales activities (e.g., model units and sales offices).
• Leasing & rentals: Leases must be for at least one year, in writing, and subject to the governing documents. Transient or hotel use is prohibited. An executed copy must be submitted to the association on an approved form.
• Parking: There are 73 parking spaces allocated per Exhibit D. Owners may reallocate spaces by recording an amendment with board approval (unless the board finds it unreasonable within 30 days).
• Storage: 16 storage spaces are allocated by the declarant or conveyed by deed, subject to association regulations.
• Maintenance responsibility: Owners must maintain their unit interiors and systems; the association maintains the common elements. If an owner fails to maintain, the association may enter and perform the work, charging the owner plus interest at 18% per annum.
• Resale restriction: Except for Residence 1701, owners cannot offer their residence for sale during the one-year 'Sales Restriction Period' after purchase from the declarant.
• Assessments: Monthly and special assessments are levied per unit based on the allocated interest. Late payments accrue interest at the 'Past Due Rate' (18% per annum or the maximum lawful rate). Voting rights may be suspended for nonpayment.
• What this document doesn't cover: This excerpt does not specify pet limits, age restrictions, or architectural review procedures. Those may be found in other governing documents (e.g., regulations, bylaws, or master declaration).

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.