Governance of Riverport
When you buy a condominium, you are buying all the space contained within your interior walls, and any ducts, plumbing, or wiring that serves that condominium exclusively. The exterior of the building, the landscaping, and all common areas are owned by the association, a group made up of the condominium owners. The condominium association is controlled by an Executive Board, who is elected by the condominium owners and who serve without compensation of any kind. This board establishes rules & regulations over all common spaces.
The Executive Board holds regular board meetings in which financial, maintenance, and legal issues are discussed and acted upon. An annual meeting is held each year in which all unit owners are invited to attend. This meeting usually takes place during January of each year. There are also quarterly meetings that all unit owners are invited to attend as well.
To adopt the annual budget and any amendment thereto or to assess any common expenses
To adopt, repeal or amend Rules and Regulations
To designate signatories on Association bank accounts
To borrow money on behalf of the Association
T o acquire and mortgage units
T o designate reserved common elements
T o allocate limited common elements
The PA Uniform Condominium Act requires that the Executive Board and the Association obtain and maintain insurance coverage for the Condominium building, but not for individual home owner’s belongings or upgrades. Please contact the agent of your choice or the Management office for further information for home owners and/or tenants to purchase their own insurance.