High Priority Alerts
3
Require immediate review
Documents Validated
8/9
Missing: Survey Map
Reserve Fund Health
42%
Below recommended 70%
High Priority Alerts
Pet Weight Limit — 40 lbs maximum
The declaration prohibits pets exceeding 40 lbs. If you own a large-breed dog, this restriction is a critical conflict with your lifestyle.
📎 Declaration §10.1
Timesharing & Short-Term Rentals Banned
Units may not be used for Airbnb, VRBO, or any short-term rental. Entire unit must be leased for minimum 12 months. Applies to owners and tenants.
📎 Declaration §14.3 & RCW 64.34.425
Pending Special Assessment — $4,200/unit
Board has approved a special assessment for roof replacement. Amount due per unit: $4,200. First installment due 60 days post-close. Confirm with title.
📎 Resale Disclosure Certificate p. 4 & Board Minutes Oct 2025
Verification Status — Document Classification
| Document | Type | Confidence | Status |
|---|---|---|---|
| Resale_Certificate_2026.pdf | Resale Disclosure Certificate | HIGH | ✓ Verified |
| Declaration_CC&Rs_v3.pdf | Declaration of Covenants | HIGH | ✓ Verified |
| Bylaws_LakewiewCondo.pdf | Bylaws | HIGH | ✓ Verified |
| Reserve_Study_2024.pdf | Level 1 Reserve Study | HIGH | ✓ Verified |
| FinancialStatements_2025.pdf | Annual Financials | MEDIUM | ⚠️ Review OCR |
| MeetingMinutes_Q3_2025.pdf | Board Meeting Minutes | HIGH | ✓ Verified |
| MeetingMinutes_Q4_2025.pdf | Board Meeting Minutes | HIGH | ✓ Verified |
| Rules_and_Regs_2023.pdf | Operating Rules | HIGH | ✓ Verified |
| SurveyMap.pdf | Survey Map | — | Missing |
Identified Restrictions
HIGH
Pet Weight Limit — 40 lbs
No pets exceeding 40 lbs allowed within the unit or common areas. Breeds on the restricted list (Pit Bull, Rottweiler, Doberman) are prohibited regardless of weight.
📎 Declaration §10.1
HIGH
Short-Term Rental Prohibition
Airbnb, VRBO, and all rentals under 12 months are banned. Violations subject to $500/day fine. Aligns with RCW 64.34.425.
📎 Declaration §14.3
HIGH
Special Assessment — $4,200/unit
Board-approved roof replacement assessment. Due in two installments: $2,100 at closing, $2,100 within 90 days. Confirm transfer responsibility with title company.
📎 Resale Certificate p.4
MEDIUM
Quiet Hours — 10pm to 8am
No audible noise beyond unit walls between 10:00pm–8:00am. Applies to all units, guests, and moving activities.
📎 Rules & Regulations §4.2
MEDIUM
Parking — 1 Designated Stall, No Guest Overnight
Each unit assigned one stall. Guest parking limited to 48hr. Towing enforced. No commercial vehicles or trailers in any stall.
📎 Rules & Regulations §7.1
LOW
Rental Move-In Fee — $250
Tenants are charged a $250 administrative move-in fee payable to the HOA at lease commencement. Non-refundable.
📎 Rules & Regulations §9.5
Monthly Dues & Fees
Monthly HOA Dues$485
Special Assessment (monthly equiv.)+$350
Effective Monthly Cost$835
Dues Increase (last 3 yrs)+18%
Reserve Fund
Current Reserve Balance$421,000
Fully Funded Target$1,002,000
Funded Percentage42%
Reserve Study TypeLevel 1 (2024)
Financial Risk Signals
Reserve Fund Below 50% — High Special Assessment Risk
At 42% funded, the association is significantly undercapitalized. Industry guidance recommends 70%+. Risk of additional special assessments within 3–5 years is elevated.
📎 Reserve Study 2024, p.12
18% Dues Increase Over 3 Years
Monthly dues have increased from $411 to $485 since 2023. Budget growth has outpaced inflation. Evaluate whether further increases are likely given reserve gap.
📎 Annual Financials 2023–2025
Delinquency Rate — 3.2% (Low)
Association reports 3.2% owner delinquency, which is within the healthy range (<5%). No pending litigation disclosed in the resale certificate.
📎 Resale Disclosure Certificate p.2
Step 4: Critical Risks — Items for Professional Review
Confirm Special Assessment Transfer Obligation at Closing
The $4,200 special assessment was approved before mutual acceptance. Negotiate whether seller or buyer bears this cost in the Purchase & Sale Agreement. Request written confirmation from title company.
📎 Action: Real Estate Attorney / Title Agent
Verify Pet Restriction Enforceability
The 40 lb pet limit is in the recorded Declaration and has been actively enforced (3 violation notices in 2025 minutes). If you have a pet over this weight, consult attorney on whether FHA reasonable accommodation applies.
📎 Action: HOA Attorney Review
Reserve Deficiency — Request 3-Year Capital Plan
With reserves at 42%, request the board's capital improvement plan and any pending bids. Consider requesting a reserve study update clause or price adjustment in the PSA.
📎 Action: Request from Management Company
OCR Quality Flag — Financial Statements 2025
The 2025 financial statement PDF appears to be a scan with medium OCR confidence. Some line items may be inaccurate. Request a native digital copy from the management company before relying on these figures.
📎 Action: Request native PDF from FirstService Residential