Preston Village II Association, Inc.

What Preston Village II Association, Inc.'s governing documents say

This document is an amendment to the Condominium Declaration for Preston Village II, a condominium community in Plano, TX. It establishes a Master Association that manages Preston Village II along with several related projects (Village on Preston V, VII, XI). Unit owners are members of both the Preston Village II Association and the Master Association, which handles common expenses, assessments, and governance across all projects.

• Master Association & Shared Governance: A Master Association (Preston Village Master Association) oversees common elements and expenses for Preston Village II and related condominium projects. Unit owners are automatically members of both their local association and the Master Association, which has authority to manage, budget, and levy assessments.
• Assessments & Late Fees: Common assessments are set annually by the Master Association and due monthly in advance by the 1st. A $25 late fee applies if not paid by the 15th. Annual increases are capped at 120% of the prior year's assessment unless the budget requires otherwise. Funds from all related projects may be commingled.
• Alterations & Approvals: No owner may alter common elements (limited or general) without prior written approval from the Master Association's Board. Plans must be submitted; the Board has 30 days to respond (failure to respond means no objection). Unapproved alterations may result in a $500 fine and require restoration at the owner's expense.
• Board Eligibility: As per the 2025 First Amendment to Bylaws, an owner who is delinquent on assessments is not eligible to serve on the Board of Directors of Preston Village II Association.
• What this document doesn't cover: This is an amendment to the declaration, not the full governing document. It does not contain rules on leasing, pets, parking, age restrictions, or other typical HOA restrictions. Those would be found in the original Declaration and Bylaws.

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.