| Buy or Rent an Kingston
Condo? When buying an Kingston condominium, a person
would own the unit, along with a percentage of the common
property elements allocated to the unit. The percentage of
the common elements and the boundaries of each unit that is
owned may vary between condominiums. This depends on how they
are specified in the condominium’s governing documents.
There are times where the unit boundary can be at the backside
of the interior drywall of the unit’s dividing walls
or could be the center line of the unit’s wall. At the
time of purchase, it is important to consider the boundaries
of your condominium, especially if there are alterations and
renovations as a potential part of the purchase. Equipment,
systems, finishes and other things that are contained only
in an individual unit are included. The right to use one or
more parking spot and storage areas may be included even though
a person seldom owns that space.
For a freehold condominium (or
a bare/vacant land condominium), the unit may be the entire
house including the exterior walls, the roof and in some cases,
the land surrounding the structure. Prior to making a purchase,
you may wish to hire a professional surveyor to review the
site plan for the condominium corporation so you know exactly
where you unit’s boundaries lay.
Components of building systems that serve more than one unit,
such as structural elements and mechanical and electrical
services, are often considered part of the common property
elements, particularly when they are located outside of the
unit boundaries specified in the condominium’s governing
documents.
There may be some parts of the condominium complex that are
called “exclusive use common property elements.”
They are outside the unit boundaries, but are for the exclusive
use of the owner of a particular unit. Balconies, parking
spaces, storage lockers, driveways and front or rear lawn
areas are common examples of exclusive use common property
elements. It is important to be aware of any exclusive use
common property elements before you make an offer to purchase
a condominium. While these spaces are exclusive to your use,
there may be restrictions on how and when you use them. For
instance, you many not be able to park a boat, RV or commercial
vehicle in your assigned parking spot. There may also be restrictions
on what you can place on your balcony.
Your Guide to Kingston Condos
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