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FAQs

 

 

What is a planned unit development?
Riverpark Villas is a Residential Planned Unit Development (PUD), created in compliance with the Zoning Ordinance of the City of Park Rapids. A PUD (Planned Unit Development) requires an integrated site plan that regulates the number and density of dwellings, the creation and preservation of open space, and the establishment of certain protections and restrictions on the property to protect the harmony and general environment of the community. The establishment of an Owner’s Association is also a requirement for a PUD.

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What do I own?
Each property in Riverpark Villas is a unique parcel of real estate with its’ own individual legal description and individual title. When you purchase a home in Riverpark Villas, all the rights to this title are yours.

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What about property taxes?
As a separate parcel of real estate, your property has a unique parcel number, and you will receive your own property tax statement from Hubbard County. You, as the owner, are solely responsible for these property taxes.

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What about insurance?
The Owner’s Association does not provide insurance to cover the property you own. You will need to obtain your own homeowner’s insurance policy to protect your home.

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Who owns the beach, and common area?
Every home owner in Riverpark Villas has an interest in the beach and common area, through their membership in the Owner’s Association. Rules regarding the use of the beach and common area and defined in the Association Rules.

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What is an owner’s association?
An Owner’ Association is an entity created under certain Minnesota Statutes to provide for the operation, maintenance, management and general harmony of property developed pursuant to the Minnesota Common Interest Ownership Act.

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Who runs the owner’s association?
You do. The Owner’s Association is run by the board of directors, elected by the property owners who are members in good standing.

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What rights and obligations do I have?
When you purchase a home in Riverpark Villas, you automatically become a member of the Riverpark Villa’s Owner’s Association. Your important rights and obligations are defined by its’ Declaration, Bylaws, Association Rules, and Disclosure Statement. Generally, these documents provide for the operation, maintenance, and general harmony of the community.

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Who is responsible for maintenance?
The elected Board of Directors will make decisions regarding the maintenance and upkeep of the property, and has the authority to hire landscapers, tradesmen, and other vendors of services necessary to maintain the condition and appearance of the Community. The cost of these services will be paid through individual assessments to each property owner.

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What maintenance am I responsible for?
Each owner is responsible for the maintenance and upkeep of their individual Riverpark Villas home. In certain cases, prior approval for repairs, alterations or modifications that affect adjacent or adjoining Units may be required by the Owner’s Association.

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Are there dues to pay?
Yes. The Board of Directors will approve an annual operating budget and assessment to pay for the operation and maintenance of the property. These dues are mandatory, and provide for the maintenance and upkeep of the community. Currently, dues are reduced to $95 from $125 per month.

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If you have any other questions, please e-mail us at a info@epdevelopment.com
or call Alan at 1-866-375-6409

To view detail of the Association Rules, the Disclosure Statement, or the Declaration & By-Laws
Click Here. Association Rules | Disclosure Statement | Declaration & By laws

DISCLAIMER: The information and documents presented on this website are for general information purposes only, and in no way should be construed as legal advice or interpretation of any legal right, definition, or statute. The original recorded documents shall control.

 

 

 

 

For more information contact Alan 1-866-375-6409


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