The Towers at Parkview Bay - Osage Beach, Missouri

WELCOME TO THE TOWERS AT PARKVIEW BAY!

The Towers is Parkview Real Estate Company's latest condominium complex, located in Osage Beach, Missouri. Take a tour of our web site. We hope you'll be calling your next home, "The Towers at Parkview Bay!"

Owning a Condominium is a unique form of property ownership. While you own your own unit, you also are part owner of all common areas of the property. In the case of Parkview Bay, that common property includes the beach, pool, and docks among other amenities.

The key to understanding the specialized aspects of condo ownership is understanding terms that define your rights and responsibilities. Here are some terms you'll want to be familiar with:

Assessments: A monthly fee paid by the owner of each condominium. This fee covers the cost of operating and maintaining the common areas and facilities mentioned above. Those costs include snow removal, lawn care, pool maintenance, and parking facilities.

Association: All condo owners are automatically members of Parkview Bay Home Owners' Association. This organization determines the bylaws, restrictions, and responsibilities for property owners. Management and operation of Parkview Bay will be turned over to the association when 70 percent of the property has been sold.

Board of Directors: This is the ruling body of the Parkview Bay Home Owners' Association, elected by the members.

Bylaws: These are a system of rules and regulations which govern the administration of the association and spell out procedures for maintenance, fee collection, and other matters.

Common areas: These areas of the development are owned jointly by all property owners. They include the pool, the land on which the buildings stand, docks, lawns, and parking facilities. Stairways, entranceways, and the like are owned by a small number of owners and are called limited common areas.

Master deed or declaration: This document carefully defines all bylaws, ownership rights, and use restrictions in the development. It also details individual owner's share of common areas and responsibility associated with maintenance of those common areas.

Condominium bylaws and agreements can be complex. Be sure you read these documents carefully and that you understand everything in them. Once you fully understand your rights and responsibilities as a condominium owner, you will be ready to enjoy your new home.