- The Condominium Association When you buy a cabin, you become an equal partner in the Cherry Lane Cabins Condominium Association. Each owner fully owns and maintains his own cabin, while the association owns and maintains the docks, grounds, and other shared property.
There are many advantages for you as a condo owner. The original cost and annual taxes for your unit are considerably less than a similar stand-alone cabin on its own land and shoreline. Since you share the common property with four other owners, you only pay a portion of the maintenance. You are spared a lot of work, so you have the freedom to enjoy more of your time at the lake!
There are three documents for you to examine. The plat, prepared by a registered surveyor, shows the property boundries, placement of the units and also the layout of the units. (Click here to view page 1 or page 2 of the plat). 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 third 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 are between $420 and $990 annually for the different units.
We have assembled some pictures of the common elements and just plain fun for everyone to enjoy at the lake. (Click here to view the photos...)