For Owners

Overview | Maintenance | Modifications & Gardening | Fee Payments | Insurance | Renting | Selling | Update Contact Info

 

Overview

img_4252 Waterscape strives to be responsive to owners and sets high standards for maintenance of the property.  Owners and residents carry the responsibility for reporting exterior maintenance needs in a timely fashion – and, very importantly, for maintaining a congenial and considerate atmosphere.

The Waterscape team at Ardsley Management takes care of maintenance requests from owners.  Ardsley works with the Waterscape Board to facilitate communications with owners and plan for the future of the community.

 

Maintenance Requests

In a condominium community, all exterior property is owned and maintained jointly by ALL the owners.  No one “owns” individually the roof immediately over their condo, nor the ground right beside it.  EVERYONE owns a percentage of ALL the roofs, grounds, and all other exterior elements of the community.

Therefore, maintenance of the grounds and the exterior of the buildings is the responsibility of the Homeowners Association.  The costs of this maintenance are paid from the monthly HOA maintenance fees.  Individual owners are responsible for maintaining all the interior elements of their individually owned condos.

Owners need to report exterior maintenance issues regarding the buildings and grounds immediately to the Managing Agent.  If the problem is reported promptly, the HOA may be responsible for taking care of interior damage shown to have been caused directly by the exterior problem (such as a leak).

Contact Managing Agent

 

Building Modifications & Gardening

Because ownership of the Common Areas in a condominium community is shared among ALL the condo owners, any owner wishing to attach anything to (or modify any element of) the building exteriors must get advance approval.  Among the building modifications requiring advance approval are replacement windows and doors and deck construction.  Likewise, advance written approval from the Board must be obtained in advance for planting or removing anything from the grounds.

Helpful guidelines are provided by clicking on the “Guidelines/Policies” tab on the right.  In addition to these guidelines, you’ll find the forms you need:  the “Architecture-Building Modifications / Replacements Approval Request Form” or the special form to use to obtain permission BEFORE you install a satellite TV dish or antenna … and the “Personal Gardening Approval Request Form” if you are interested in modifying or adding any landscaping.  Dock license owners also need advance approval for installing boat lifts or modifying them.  Look for the “Dock Modification Approval Request Form” to submit in order to secure the required advance approval.

Waterscape has a streamlined process for considering requests from owners for building modifications and personal gardening.  Requests are submitted to Ardsley Management; and, while 30 days are allotted for the Board’s consideration, many requests can be addressed much sooner.  Board members and committee members are available to assist individual owners with their planning.

More details may be found in the Waterscape’s By-Laws (see “Documents”) and in the various publications found under “Policies”.  The tabs on the right will guide you to those web pages.  As always, a good place to start is by downloading and reading the “QuickView” and also checking out “FAQ” – you may find the answer to your question there.

QuickView: Guidelines for Successful Living at Waterscape
Policies
FAQ

 

Fee Payments

Waterscape has an enviable record of owners paying their fees on time.  These fees are approved by homeowners each year at the Annual Meeting in November.

All payments are handled by Ardsley Management, although the checks are made payable to Waterscape HOA.  Payments for the current month are due by the 15th; Dock Fees must be paid in April each year.  Late fees of $25 are charged for payments received after these dates.

Owners should contact Ardsley Management to learn about the options for paying their fees.  There are several convenient methods to select from, including the option of automatic withdrawals from checking accounts and an online portal for making electronic payments of the regular monthly HOA fees.

Contact Managing Agent

 

HOA & Personal Insurance

All owners are protected by Waterscape HOA’s master policies for property damage, liability, fidelity bond, volunteer accident, cyber security, and workers compensation insurance.  These policies insure the exterior of the buildings, the grounds, and the docks, for example.  Costs of these insurance premiums are included in the HOA’s monthly maintenance fees and the Docks annual fees.

Individual owners are responsible for insuring the contents of their condominium units and themselves for their own personal liability.  That individual “condominium owner’s policy” (also known as an HO-6) often can be written to include payment of the individual owner’s portion of the HOA property damage policy deductible.  It’s very important for owners to speak with the carrier of their own individual policy to find out what is available in the way of coverage within their own policies that would pay their share of the HOA deductible.

Owners should begin by downloading and reading carefully the details provided by Waterscape HOA’s insurer, Community Association Underwriters of America, Inc (CAU).  The link below provides those details along with information regarding claims as well as contacts to use when your bank or mortgage company requires insurance-related information

CAU Letter and Info for Waterscape Owners (Updated 4/17/22)

If you need more info, contact our CAU agent, Joel Davis, directly via his corporate cellphone at 1-847-894-5103 or jdavis@cauinsure.com.

 

Renting Your Condo

The Covenants of Waterscape (21st Amendment regarding “Rental Limits”) allow a maximum of 15% of the units to be leased/rented at any one time.  When the 15% limit is reached, a waiting list is maintained.

The first step for an Owner contemplating leasing his or her Waterscape condominium is to determine if space is available within the 15% limit.  It also is essential that an Owner whose condo already is rented secure the space within the 15% limit before the current lease expires.

The Managing Agent maintains current information regarding the status of the 15% limit.  Owners must check with Ardsley Management BEFORE leasing their condos or renewing their leases to make sure space is available within the association’s limits on the number of rentals.

In addition, the “Rental Limits” Amendment requires some other very specific steps on the part of an Owner leasing his or her Waterscape condominium.  It is absolutely essential that Owners currently renting their condos and those contemplating a rental download and follow the procedures found in these documents:

Policy re Exterior “For Rent” Signage

Rental Limits Amendment (21st Amendment)
Rental Limits Amendment (22nd Amendment)


 

Selling Your Condo

Here are some helpful links, including downloads of flyers that elaborate on some of Waterscape’s unique advantages.  Feel free to duplicate the flyers to distribute to potential buyers.

Steps for Selling Your Condo
Policy re Exterior “For Sale” & “Open House” Signage

“Equity Advantage” Flyer

Gallery

 

Update Your Contact Information

It’s extremely important that all residents (including renters) keep updated contact information on file with Ardsley Management.  We need to be able to find you in case of an emergency with your Waterscape condo.  Plus you want to receive  newsletters and last-minute “Alerts” via e-mail … not to mention have the correct information published in the Annual Directory of Residents.  Be sure to submit all changes using this form:

Waterscape Contact Information Form

Waterscape Homeowners Association
c/o Ardsley Management
3002 East 56th Street
Indianapolis, IN, 46220
P: 317-253-1401 F: 317-259-0387 www.ardsleymgmt.com