In some condominiums and most co-ops parking spots are “exclusive use of”. This means that the person who owns the suite doesn’t own a specific parking spot, they only have the right to the exclusive use of a specific spot.
The trouble lies in the fact that when a suite is sold, the new owner may or may not get the same parking spot. Often the allocation of parking spots is controlled by the board of Directors or the condo corporation.
I am sure that there are other instances, but in my experience there is often a list of people who are looking to change their parking spots. One example would be when an elderly (or mobility challenged) owner requests to have a parking spot closer to the elevators. This person would typically have have priority on all parking spots near the elevators that come up.
So, when buying a co-op or a condo with exclusive parking have your realtor check with management to make sure you know what you are buying!!
Oh! The same goes for “exclusive use of” lockers as well…
If you’re thinking of buying or selling real estate in the GTA, just give me a call @ 416-671-5775