When owning a condo how is limited common area paid for in N.J.
a. by square foot %
b. divided equally by number of units
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When owning a condo how is limited common area paid for in N.J.
a. by square foot %
b. divided equally by number of units
'Paid for?' HOA fees, taxes, purchase?
I have seen condo common areas added in to condo square footage and all sorts of 'creative' arrangements all designed to the advantage of the development and management company. As far as I know, there are no state laws defining how common areas must be calculated. It's definitely caveat emptor. So you will run into different methods, even within the same place. Lawns and parking lots might be by units, while interior spaces might be by proportional size of each condo.
I doubt if there are any laws about this. But it should be spelled out in the HOA by-laws.
Joy
We are being told its by square footage but the doc's have my parking spot listed on a spread sheet with my air conditioner ,washer/dryer under limited common area some units have 2 spots and have less square footage
So these units only want to go by square footage the doc's are vague
On this matter
You can challenge the calculations of sq footage. Get a copy of the unit layouts with dimensions.
It would make sense that common areas that aren't common at all (your parking space, your washer/dryer space, etc) would be by square feet.
I wouldn't be at all surprised if there are mistakes. Get a copy of all common areas and all charges for everyone, and go over them carefully, and then consult a lawyer if management is reluctant to address the differences.
Thank you for the helpQuote:
Originally Posted by joypulv
[QUOTE=ScottGem;3509558]I doubt if there are any laws about this. But it should be spelled out in the HOA by-laws.[/QUOTE
Thanks for the help
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