New Buyer Information Guide (Comprehensive Q&A)
SECTION 1: GETTING STARTED
Q: What do I need to do immediately after purchasing my unit?
A: You must complete the New Owner onboarding process:
Visit the Capricore website and complete the New Owner Form
Activate your homeowner portal (AppFolio) once invited
This portal will be your primary tool for:
Payments
Maintenance requests
Accessing documents
HOA communications
Q: What is the homeowner portal and why is it important?
A: The portal is your central hub for everything HOA-related, including:
Paying dues
Viewing governing documents
Submitting maintenance requests
Receiving official communication
Failure to use the portal will result in delays and miscommunication.
Q: Who manages the community?
A: The Association is professionally managed by Capricore Management Solutions, LLC.
Contact:
Email: info@capricorems.com
Phone: 864-970-2085
SECTION 2: HOA FEES & FINANCIAL OBLIGATIONS
Q: How much are the monthly regime fees?
A:
2-bedroom: $361/month
3-bedroom: $420/month
Q: When are payments due?
A:
Due: 1st of each month
Late after: 10th
Late fee: $100 applied on the 11th
Interest: 18% annually (1.5% monthly)
Q: What do my dues cover?
A: Your dues fund:
Water & sewer
Trash service
Landscaping
Exterior maintenance
Exterior pest control
Amenities (pool, clubhouse, gym, tennis)
Insurance (common elements)
Management services
Q: What happens if I don’t pay?
A:
Late fees and interest accrue
Account is subject to collections
Lien and legal action may follow
Possible Foreclosure
Q: Can I set up a payment plan?
A:
Requires Board approval
Does NOT stop late fees or interest
SECTION 3: RULES, ENFORCEMENT & COMPLIANCE
Q: Are rules optional?
A: No. Compliance is mandatory under the governing documents and enforceable by law.
Q: How are violations handled?
A:
Inspections performed by management
Violations issued per Rules & Regulations
Fines escalate for repeat offenses
Q: Can I appeal a violation?
A:
Yes, submit appeal via email
Reviewed by Board of Directors
Q: Who determines violations?
A:
Management identifies violations
Board establishes rules and enforcement authority
SECTION 4: RENTAL RESTRICTIONS (CRITICAL)
Q: Can I rent my unit?
A: Not automatically. Northlake is a restricted rental community.
Q: What is the rental cap?
A:
Maximum: 15% of units (approx. 36 units)
If cap is full, you must join a waiting list
Q: Is there a waiting period before renting?
A:
Yes. You must live in the unit for 24 consecutive months before eligibility
Q: What are the lease requirements?
A:
Minimum 12-month lease
Entire unit only (no partial rentals)
Must include HOA compliance clause
Must be submitted to HOA each time
Q: Are short-term rentals allowed?
A: Absolutely not (no Airbnb, VRBO, etc.)
Q: What happens if I violate rental rules?
A:
Lease invalidation
Fines up to $100 per day
Legal enforcement
SECTION 5: PARKING & VEHICLES
Q: How many parking spaces do I get?
A:
2 spaces per unit:
1 reserved
1 open
All vehicles must display decals
Q: How much are parking decals?
A:
$15 each
Limit: 2 per unit
Q: What happens if I park incorrectly?
A:
Fines start at $100
Increase with repeat violations
Possible towing
SECTION 6: AMENITIES & COMMUNITY USE
Q: What amenities are available?
A:
Pool
Clubhouse
Fitness center
Tennis courts
Boat docks
Q: Can guests use amenities?
A:
Yes, but must be accompanied by a resident
Q: Is use of amenities at my own risk?
A:
Yes. HOA assumes no liability for injuries or damages
SECTION 7: BOAT SLIPS & LAKE RULES
Q: How do I get a boat slip?
A:
Annual application (opens in June)
Term: July 1 – June 30
Subject to availability and waiting list
Q: What are the fees?
A:
Covered slip: $2,400/year
Uncovered slip: $1,800/year
Q: Can I sublease or transfer a slip?
A: No. Strictly prohibited.
Q: Can I temporarily dock my boat?
A:
No temporary dockage allowed
Beaching allowed up to 72 hours (at your own risk)
Q: Are there safety rules around docks?
A:
No swimming within 100 feet of slips (electrical hazard)
Violations may result in fines
SECTION 8: BOAT TRAILER PARKING
Q: Can I store a boat trailer?
A:
Yes, with approved application *Spaces are limited
Must fit within 20 ft limit
Q: What does it cost?
A:
With slip: $300/year
Without slip: $500/year
Q: Are spaces guaranteed?
A:
No, first-come, first-served
SECTION 9: ARCHITECTURAL CONTROL & RENOVATIONS
Q: Can I modify my unit?
A:
Interior: Limited
Exterior: Requires Board approval
Q: What requires approval?
A:
Any exterior change
Structural modifications
Utility changes
Q: Do I need a structural engineer?
A:
Yes, for any structural-related work
SECTION 10: BALCONIES, STORAGE & EXTERIOR USE
Q: What is NOT allowed on balconies or entryways?
A:
Grills, fire pits
Storage items (bikes, furniture, tools, etc.)
Hanging items (clothes, rugs, etc.)
Q: Can I decorate my balcony?
A:
Very limited — nothing attached to structure
Q: What happens if I violate these rules?
A:
$100 fines per occurrence
Daily doubling for ongoing violations
SECTION 11: MAINTENANCE RESPONSIBILITIES
Q: What does the HOA maintain?
A:
Exterior buildings
Landscaping
Common areas
Amenities
Q: What am I responsible for?
A:
Interior of your unit
Fixtures, appliances, plumbing within walls
Q: How do I report issues?
A:
Submit a work order through the homeowner portal
SECTION 12: COMMUNICATION & RECORDS
Q: How should I communicate with management?
A:
Email is strongly preferred (creates a record)
Q: Where can I find documents?
A:
Homeowner portal
Includes:
Master Deed
Bylaws
Rules & Regulations
Financials
Meeting minutes
SECTION 13: IMPORTANT COMMUNITY RESTRICTIONS
Q: Can I put up signs (For Sale, For Rent, etc.)?
A:
No signage allowed anywhere on property
Q: Are open houses allowed?
A:
No
Q: Is solicitation allowed?
A:
No (strictly prohibited)
SECTION 14: BOARD & GOVERNANCE
Q: Who runs the HOA?
A:
Board of Directors (elected homeowners)
Q: Can I attend meetings?
A:
Yes (subject to meeting structure)
Q: Can I serve on the Board?
A:
Yes, via election or appointment