CONDOMINIUM OWNERS ASSOCIATION (COA)
The Regency at Packer Park
All Homes in this Community are subject to the fees & restrictions summarized below.
The COA has specific maintenance responsibilities & administers the Development in accordance with PA State law (PA Condo Act).
These regulations are for your protection.
The COA purpose is twofold:
- To preserve & enhance property values & lifestyles
- To protect homeowners by ensuring that the appropriate budgets & procedures for common area maintenance & repairs are in place.
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The monthly fee is projected to be approximately $245 per month. A major benefit to the homeowner is that the entire exterior of your home (elevators, brick facade, roof,) along with major infrastructural components will be covered by the insurance policy secured by the COA, not by the home owner or the homeowner's own insurance. This results in a savings on homeowner insurance. Homeowners may obtain a customized HO6 policy, which is reasonably priced and covers the interior of their home, their contents and liability within the home.
The monthly fee is allocated to several categories of common expenses:
- Building & Grounds Maintenance
- Professional & Administrative
- Capital Reserves
- Utilities
Building & Grounds Maintenance includes general building maintenance, supplies, trash removal, cleaning and maintenance of foyers & elevators, landscaping, sprinkler system maintenance, general maintenance of common areas and snow removal from sidewalks and parking lots. These services permit our homeowners to have no worries about any services or repairs outside of their homes.
Professional & Administrative includes the Association's common element property and liability insurance. It also applies to management, auditing and legal fees.
Capital Reserve is to be distinguished from regular maintenance within the Community. Capital Reserve covers those items that need to be replaced entirely in the future. Such items include roadways, sidewalks, street lighting, shingles, gutters / downspouts and brick facades.
Utilities covers those common area utility costs, such as hallway lights, water bills for landscape irrigation, etc.
RESTRICTIONS
There are certain restrictions that apply to all homes at the Regency. Any modifications of any kind to the outside of your home are specifically prohibited in the Declaration.
General Rules that should be noted are:
- NO PARKING of boats, trucks, trailers or any type of commercial vehicles in the parking lot or curbside
- NO DOGS of any size living or visiting the home
- Window coverings must appear from outside as white or beige only.
Wentworth Property Management Corporation has recently introduced "Direct Debit Service" as a payment option. Simply authorize regularly scheduled payments to be made from your checking account and on the fifth day of each month a deposit will be made to the Association. Proof of payment will appear on your bank statement.
For further details, please consult the full Public Offering Statement and additional literature as prepared by the COA. A detailed budget and expense report is furnished to all homeowners in their Agreement of Sale package and thereafter on an annual basis.
