Q: How does “Zero Lot Line” at RiverBay compare with a condominium?

A: Unlike a condominium, RiverBay residents actually own the lot on which their townhome is located. In a condominium, you only own the air space within the walls of your unit; you own no land that you can call your own. In RiverBay, only the open space surrounding the lots is common property.

 

Q: What exactly does “Common Property” mean?

A: The areas surrounding the lots are known as common areas and are owned and maintained by RiverBay Homeowner’s Association. These areas, including the swimming pool and restroom, are for the exclusive use and enjoyment of RiverBay owners, guests and tenets.

 

Q: What is the RiverBay Homeowner’s Association and who controls it?

A: RiverBay Homeowner’s Association, Inc. is a non-profit corporation. RiverBay owners are considered Class A members and shall be entitled to one vote for each lot owned. The Developer is a Class B member and is entitled to three votes for each lot owned. Class B membership will cease and be converted to Class A membership when the total votes in Class A equals the total votes in Class B (when 75% of the homes are sold). The directors of the Association are elected annually and they elect Association officers.

 

Q: What services are provided by the Homeowner’s Association?

A: Maintenance and upkeep of the common areas include the landscape care and irrigation, parking lot maintenance, operation, repair and maintenance of the swimming pool, trash collection, street lighting, sewer service and lift station, ponds, walkways, building painting, roof replacement and insurance on the common elements and all water consumed at RiverBay.

 

Q: Who pays for the services rendered?

A: All members of the Association are required to pay an annual assessment collectible monthly. So long as there is a Class B membership, the developer will pay the difference, if any, between the total operating expenses and the amount of the assessments required to be paid by Class A members; or at the developer’s option, he may elect to pay the same as Class A members. All monies collected are used for maintenance, certain utility expenses and taxes & insurance on the common property.

 

Q: What is the annual assessment?

A: The annual assessment is calculated on the amount of billings to the Association by providers of utility services such as sewer, water, reclaimed water, garbage pickup, electricity, grounds maintenance, pool services and other common expenses. These expenses are variable and can change from year to year.

 

Q: What safeguards does the Association provide to uphold the pleasant appearance of RiverBay?

A: Any alterations or additions which would change the exterior appearance of any RiverBay home must be approved, in advance, by the RiverBay Homeowners Association.

 

Q: Are there any restrictions if I want to sell my townhome?

A: No, you may sell your townhome as you would sell any other home. The new owner is automatically a member of the Association and subject to the restrictions and assessments.

 

Q: What about pets?

A: Two pets may be kept by RiverBay residents. Animals must be kept within the confines of its owner’s property, or on a leash when outside.

 

Q: Can I put up a fence?

A: No fences are permitted.

 

Q: What about parking in RiverBay?

A: Each home is provided with garages designated on the ground floor of your unit as well as a driveway. Additional parking spaces are available on an unassigned basis. Parking on RiverBay roads or other common areas is prohibited.

 

Q: Is the homeowner responsible for any exterior maintenance?

A: Yes. Each owner must maintain the exterior of his/her home, including but not limited to, the roof, fascia, soffits, all exterior walls, driveways, screened and open patio areas.

 

Q: How is sewer service handled?

A: All water and sewer service is included in the annual assessment.

 

Q: What about trash collection?

A: Trash pickup will be “curbside” on scheduled days during the week. All expense of trash pickup is included in the annual assessment.

 

Q: What about homestead exemption?

A: RiverBay homeowners can qualify for Florida Homestead Tax exemptions by filing necessary documents with Manatee County in conformity with all current laws.

 

Q: How many lots will be included in the Association?

A: RiverBay Homeowner’s Association will include the owners of all lots in RiverBay. The developer plans to develop a maximum of 114 lots in RiverBay.

 

Q: Who manages the property after the developer is no longer involved?

A: With approval from the Board of Directors, a management company can be employed to pay bills and supervise lawn, pool and grounds maintenance.


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