Condo Neighbours Have Much in Common
- by
Shelley Williamson
Anyone who’s considered “going condo” has likely come across a slew of terms he or she may not grasp, but the experts advise knowing just what you’re buying into before taking the plunge.
Since a condo is essentially buying a share of a company, ownership also entitles and binds residents to any common property associated with a condominium. But just what is considered “common”?
“When buying a condominium you must wrap your head around the idea that the unit you buy is almost a side issue to the common property of a condo complex,” says Paulette Marsollier, a Calgary realtor who teaches “Condominium Classroom” seminars for people interested in buying or selling a condominium.
Lauretta Kaechele, vice-president of the Canadian Condominum Institute and vice-president of Emerald Management, says what constitutes exclusive use, common or managed property varies from one type of condominium to another, and it’s important check a property’s bylaws to see how common property is defined.
“The easiest way to think of common property is to think of anything outside of your unit — hallways, stairs, exterior — but the one definition that would cover it would be anything that’s owned equally — an easy one is something like a roadway,” says Kaechele. Exclusive-use common property is an area designed for the exclusive use or enjoyment of an individual condo owner, such as a parking stall, but is also considered commonly-owned by the condominium as a whole. |
|
 |
Ultimately, as with other condo matters, the board has the final say, but individual owners have a share, and therefore an interest in any common property belonging to the condominium. Monthly condo fees go toward upkeep of any common areas, such as landscaping of greenspaces, or clearing snow from any common walks and roadways.
“The people in charge are ultimately the corporation, and the board of directors, and sometimes with the assistance of a management company,” says Kaechele.
One upside to having common property in addition to your own space to come home to at day’s end is access to amenities or services at a lower dollar figure than if you were to purchase a single-family address.
“If you consider the fact that you share common walls, common water-sewer and common area insurance you can do the math and will likely be paying less than a single-family homeowner,” says Marsollier, adding owners do often have to pay their own electric, phone and cable costs for individual units.
Being able to live in a sought-after location, such as in the hub of the downtown core near river pathways, shopping and eateries, and within walking distance to careers is also a benefit condo ownership holds over a home in the burbs, says Kaechele.
“Very few people would be able to have a (single-family) home in Eau Claire, for example. You are right in the heart of things and can walk everywhere.”
In-house luxuries ranging from hair salons and woodworking shops to workout spaces, pools, guest suites and party rooms are some types of common property which are afforded condo owners at a relatively inexpensive cost since they’re paid for by the entire group of residents.
One warning the experts offer to novice or would-be condo owners is making sure to read rules governing how spaces can be used, and, in the case of seemingly-grey areas like balconies or front doors — which are also considered common property — whether they can be changed or adorned.
“The biggest misnomer about exclusive-use, common or managed property is you can do whatever you want,” says Kaechele.
Painting a door, hanging a Christmas wreath to greet visitors, lighting a patio with coloured lanterns or even hooking up a satellite dish may be against the property bylaws, but generally these rules are in place to keep things looking their best and maintaining high property value, says Kaechele.
But those who find themselves in violation of a bylaw regarding common property do have options. Attending general meetings to voice concerns to the board, or making a plea to get a bylaw changed — which takes an agreement of at least half the board and 75 per cent of owners — or even joining the board are all ways to work at changing a condo’s rules.
Curious about condo ownership? For more helpful hints about buying and owning a condominium in Calgary, tune into Shaw TV's Condo Living segments with host Barb Mitchell each Wednesday, Saturday and Sunday.
Next week’s Condo Living TV topic: Perfect perks. In two weeks: Love thy neighbour; keeping the peace with fellow owners.
Feel free to go back to the archives page for more articles.
View even more archived articles on our Condo Living website or pick up the current issue at over 400 locations in Calgary for up-to-date articles on new developments and other related topics.
