Covenants also called “governing documents,” are non-governmental, legally binding restrictions that apply to land and landowners. On Daniel Island, there are three primary sets of covenants that correspond to each of the Property Owners’ Associations: the Daniel Island Community Association, Inc. (DICA), Daniel Island Park Association, Inc. (DIPA), and Daniel Island Town Association, Inc. (DITA).
The Covenants are legal instruments that are recorded in the official land records office for Berkeley County. They describe in detail the rights and responsibilities of property owners and of each of the Associations. All property owners should have been provided with a copy of the covenants by their attorney at closing.
Each Association’s Board of Directors approves the budgets of DICA, DIPA, and DITA each fall. As a reminder, the Daniel Island Town Association (DITA) includes the business district of Daniel Island and most of the multi-family residential developments (including the Oaks). The Daniel Island Community Association (DICA) includes single-family and townhome properties south of I-526 as well as the Parkside Condominiums. The Daniel Island Park Association (DIPA) includes residential property north of I-526 (except the Oaks).
If you would like a copy of our annual budget, please contact our office at email@example.com
Each Association has a reserve study that is updated annually. A reserve study is an in-depth evaluation of a property’s physical components and an analysis of its reserve funds. Based on a thorough on-site inspection, a custom reserve study details anticipated replacements or repairs to common-area elements and recommends annual reserve funding to cover capital expenditures for the next 30 years.
There may be a 90-120 day discrepancy between the reserve amounts listed on the budget and the amount listed on the Reserve Study. It is updated each year and this will be done early next year for the 2023 Reserve Study.
The Associations have historically only received a letter of review/opinion annually on the Associations’ finances by an independent accountant.
If you would like a copy of our latest audit, please contact our office at firstname.lastname@example.org