One of the highest saleable features of any Boston luxury condo is parking. This is especially true in a densely populated neighborhoods such as; Back Bay, Beacon HIll and Downtown/Midtown areas.
Listed below are several types of parking that you might find in a Boston luxury high rise condo building:
- Deeded parking is the highest standard because the space itself “travels with the land” when the property is sold. It’s your space and only your space. It can be in a private garage space or outdoor sapce.
- Exclusive use is a space in a garage (or other structure) where others park. You have the right to exclusive use of the designated space. This also travels with the land when selling.
- Assigned parking means the space is “assigned” to you/the property. However, the right to a “particular” space may be re-assigned at some point in the future. Still this right to a parking spot travels with the land UNLESS the CC&Rs stipulate a right of first refusal to another.
- Rotational parking means the use of a parking space is for a limited time and shared with other owners. For example: in a four unit building with three parking spaces, the four owners share use of the three spaces as “rotational parking,” giving each owner the right to the use of one of the parking spaces for a stated amount of time. These can rotate monthly, semi-annually, as per agreement among owners.
- Leased parking provides for a “paid” parking space. It is a separate agreement with the owner/lessor of the leased space. The charges are paid monthly. This can be in the building or at a satellite location. The right to a leased parking space generally does not travel with the land.View Boston high rise luxury condos for sale with parking:
The same standards apply to storage, decks, patios, gardens, etc. How the feature is deeded is important. Fore more information call Robert Veek at 617-720-5454.
Updated: 1st Quarter 2018