Prospective Buyer FAQ

Capital Repair Project FAQ

Q: Where can I find information about the renovations currently underway at Carlyle Heights?  Information about the Capital Repair Project, which is currently underway can be found on the Association's website. Look for the "Pages" menu on the left, then click on the arrow to open Capital Repair Project folder.

Q: How long will the renovations take?  Construction on the Capital Repair Project began in August 2020 and is expected to take approximately two years to complete.

Q: What repairs are being made during the Capital Repair Project?  The complete list of repairs can be found in the Scope of Work document on the Association's website.

Q: What will the finished buildings look like?  The Architectural Design Renderings and Mail Pavilion Design can found on the Association's website.

Special Assessment FAQ

Q: Where can I find information about the Special Assessments? Information about the active and pending special assessments can be found in the Special Assessment Disclosure Statement on the Association's website.

Q: What are the options for paying the Special Assessment?  Specific information about the active and pending special assessments can be found in the Special Assessment Disclosure Statements. For the active Breezeway Repair Special Assessment, owners have the options of paying: 1) a one time lump-sum assessment; or 2) a multi-year assessment through monthly payments for 15 years.

As announced at the association’s Annual Meeting on February 18^th, payment of the special assessment to fund the Capital Repair Project will begin June 1^st, 2021.

For the pending Capital Repair Project, owners have the options of paying: 1) a one time lump-sum assessment; 2) a multi-year assessment through monthly payments for 15 years; or 3) a 50% lump-sum assessment plus, a 50% multi-year assessment through monthly payments for 15 years.

Q: When will the pending Special Assessment for the Capital Repair Project take effect? As announced at the association’s Annual Meeting on February 18^th, payment of the special assessment to fund the Capital Repair Project will begin June 1^st, 2021.

Q: How are the special assessments handled when there is a change of ownership? How the special assessments are handled when Units change ownership is entirely up to the negotiations between the buyer and seller. An assessment creates a lien against the Unit and becomes the personal obligation of the current owner at the time it is assessed. If an owner pays the Lump-Sum Assessment, the lien is satisfied and no additional payments are due unless the repair costs exceed the projected cost. In which case, the additional costs will be reconciled at the end of construction. With the Multi-year Assessment, the monthly payments are assessed anew each month. Each payment creates a new lien against the Unit and becomes the personal obligation of the owner at the time it is assessed. With the Multi-year option, future owners can simply take over the monthly payments for the duration of the 15-year term.

Q: What if we want to pay-off the assessment?  For the Breezeway Repairs Special Assessment, an estimated payoff amount can be found using the Breezeway Special Assessment Amortization Schedule For the pending Capital Repairs Special Assessment, you can simply choose the Lump-Sum option when the due date is set.

General FAQ

Q: What is the Capital Reserve Contribution?  The Capital Reserve Contribution is an initiation fee paid upon sale of a unit and is equal to two monthly payments of the current annual assessment charged to the Unit.

Q: Where can I get the Board of Director meeting minutes or current financials?  This information is available to current owners on the Association's HOA Toolkit website and/or the Beacon Homeowner Portal. The Unit's owner can provide you with these records.