The Condominium Association
When
you buy one of our cabins, you become an equal partner in the Cherry
Lane Cabins Condominium Association. Each owner fully owns and
maintains his own cabin, but the association owns and maintains the
docks, grounds, and other shared property.
There are many
advantages for you as a condo owner. The association maintains
all of the common property, giving you more freedom to enjoy your
time at the lake. Another advantage is that the cost of your
unit and taxes are considerably less than a similar stand-alone
cabin on its own land and shoreline.
There are two documents
for you to examine. The condominium declaration has basic
information about ownership and maintenance of the property.
It defines what is included in a unit, which are common elements
that everyone shares, and which are limited common elements that are
outside the unit, but used and maintained by the individual. (Click
here to view the declaration...). The other document is the bylaws,
which defines how the condominium association is structured and
how it operates. (Click here to view the bylaws...).
The association's
costs are paid by the owners. We estimated the initial fee for
each cabin at $35/month. (Click here to see details...).
Taxes are paid by the individual owners, and will depend
on the county assessor's valuations. Current taxes on other
cabins on the lake with condo ownership or stand-alone with just
50 feet of shoreline are under $1200 annually.
