Parking Stalls & Storage Lockers
When purchasing an apartment/condo, most buyers want to know whether the unit comes with parking and/or storage locker. This makes sense, as most people own a car and need space to store their belongings.
Recently I sold a unit in a condo where the property management company nor the strata could verify for me which parking stall “belonged” to the unit? So, how do you find out this info? Technically under the Strata Property Act, the Strata Corporation should have an official record. So when you buying a unit in a condo, make absolutely sure that you are getting the right parking stall and/or locker. Some people may trade their stalls, especially in new developments. The key is to check the Strata Plan carefully.
Also, in most cases, just because you own your apartment, doesn’t mean you own your parking stall or storage locker. Yes, you read right, in most cases, you don’t own it. But how is that possible you ask…well the answer is simple and complicated.
Most commonly, the right to use or ownership of a parking stall and/or storage locker is typically in 4 forms: (There are other arrangements as well, but these are usually the most common)
- Part of strata lot – A parking stall or storage locker that is designated as part of the strata lot means that it shares the same strata lot number as the main strata lot which uses the stall or locker.
- Common property – This means that the strata corporation owns the stall or locker and has ultimate jurisdiction over these.
- Limited common property – Similar to common property except that the common property has been designated for the exclusive use of the owner of the strata lot.
- Lease – The strata corporation has leased or is given exclusive license to use the portion of its common property used for parking and/or storage to the developer or a company/someone associated with the developer. The developer/company will then sell a partial assignment of rights under the lease or license to the first buyer to use a particular stall or locker. Then this owner will assign his/her rights under the lease or license to the next buyer.
The information can be found on the Strata Plan as well. However, you should always seek legal advice to confirm status of these items if you are unsure.