I own two units in a large high-rise downtown Chicago condo building and pay $180/month to rent one space in the garage. The garage is a huge profit center for the condo association. $180/month seems to me like "double taxation" since theoretically I own some small percentage of the garage, which is classified as common element. (There is no deeded parking here, but that may be a direction the board should consider.) My question is this: since the garage is common element, can the condo association legally charge more than their prorated per-space costs to owners needing parking spaces?
Answers (12)
What are your thoughts on this topic? Please share your answers below. We ask that you remain respectful of each other, and be advised that responses are monitored.
