Covenants, Conditions, and Restrictions (CC&Rs)
Limits and rules placed on a group of homes by a builder, developer, neighborhood association or Homeowners Association. When living in a building subject to CC&Rs, a buyer gives up certain freedoms to be part of a shared community. As an example, a condominium’s Homeowners Association might have smoking restrictions in common areas, guidelines for parking, and noise-level rules. There may also be aesthetic guidelines for paint color, height restrictions, and minimum and maximum square footage requirements for each home. Buyers can sometimes get access to the documents before making an offer, but in many cases, buyers get a complete list of a community’s guidelines within two to five business days of signing the initial purchase agreement.
