Condo Q&A

How to assess and manage individually deeded condo parking spaces?

Written by stephen polinsky | Mon, Oct 25, 2010 @ 06:41 PM

We have a 15-unit condo building with 6 deeded parking spaces. The common element ownership is divided into 21 units - the 15 actual units plus the 6 parking spaces which each are about 7% ownership. Should I be keeping the assessments paid for the parking spots in a separate account for parking lot repair and maintenance? One non-parking-space-owner even said the snow removal should be divided with sidewalks and such coming from the main association account and the small parking lot snow removal coming from the parking assessments. How should this be handled? There's nothing about this in the bylaws.