Two for One: Condo Parking Space Rental

A.Z. from Brooklyn, NY writes:

Dear Mister Condo,

I have a condo in Brooklyn. The condo has parking spot. I believe it is in my deed. Do I have the right to rent my parking spot? Thank you.

AND

E.P. from outside of Connecticut writes:

Dear Mister Condo,

I need your help. I live in 3-unit condo. The condo is self-managed. I have a parking space, which belongs to me but I do not have a car. My neighbor, who doesn’t live in our condo, is parking his car in my parking space with my permission. One of our neighbors, who lives in our condo said, that this is an unauthorized car and it should be removed. May I allow to parking any car on my parking lot if it is a part of my property? Thank you!

Mister Condo replies:

A.Z. and E.P., unless your association governing documents prevent it (many do, especially in high-density urban markets, so be sure you check your governing documents), you may have the right to rent your space. The reason many associations ban parking space rental is that it can create a potential problem for the association who owns the parking lots. Technically, your parking space rental enterprise sets up business on the common grounds, which is generally prohibited. What happens if the renter decides to sue you if their car is damaged in the space. Who can you rent to? Will it be another owner or someone who is looking for long-term vehicle storage? Can the renter sue the association if there is a problem? Rather than set themselves up for possible problems like these, may associations simply deny the rental of parking spaces. Check your documents. Ask the Board or Property Manager if you aren’t sure. Don’t be surprised if the answer is “no”. Good luck!

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