What is the name of your state (only U.S. law)? Georgia
Hi-I'm new to the forum so thanks in advance for reviewing my question. The property I own a loft in originally was selling reserved parking spaces for an additional $10,000 when I bought 5 years ago as the property was starting. One addition to the property that was not yet in place was a 2 level parking deck. The deck was completed for 3-4 years only a handful (only 10 or so that i remember out of over a 100 units) reserved spaces had been purchased and there was plenty of parking available. Sales of my building completed but due to tornado damage to the next phase of the bulding project was on hold as structural work needed to be completed rather than just renovations (the condos are conversions from apartments). In the last year and a half, there has been a huge influx in reserved spaces which is significantly limiting open parking for the rest of us that we were told would be available when we purchased our units. The sales office states they are now including reserved spots as part of their marketing strategy and the price is in included in the cost new units for sale but in looking at the sales and listings I don't see that reflected, especially as comparable units are still selling for less than mine even with the cost of the spaces 'rolled in.' I've asked the hoa manager if we can get some direct comps and develop a plan to protect those of us who bought in phase 1-- apparently someone's seen a map of projected reserved spots and there is nowhere left to accomodate the approximately 100 owners in unit 1 who did not purchase a space. I'm concerned for my current parking needs and for the impact on rental /resale of my unit in the future. My question is: what, if any, rights do I have as a homeowner in this situation-- they changed the game midway through and, in addition to leaving us out to dry, deleted the post i put on the community forum to see if i was the only one concerned or if other phase 1 owners were. any feedback is greatly appreciated. thanks, rebekka
Hi-I'm new to the forum so thanks in advance for reviewing my question. The property I own a loft in originally was selling reserved parking spaces for an additional $10,000 when I bought 5 years ago as the property was starting. One addition to the property that was not yet in place was a 2 level parking deck. The deck was completed for 3-4 years only a handful (only 10 or so that i remember out of over a 100 units) reserved spaces had been purchased and there was plenty of parking available. Sales of my building completed but due to tornado damage to the next phase of the bulding project was on hold as structural work needed to be completed rather than just renovations (the condos are conversions from apartments). In the last year and a half, there has been a huge influx in reserved spaces which is significantly limiting open parking for the rest of us that we were told would be available when we purchased our units. The sales office states they are now including reserved spots as part of their marketing strategy and the price is in included in the cost new units for sale but in looking at the sales and listings I don't see that reflected, especially as comparable units are still selling for less than mine even with the cost of the spaces 'rolled in.' I've asked the hoa manager if we can get some direct comps and develop a plan to protect those of us who bought in phase 1-- apparently someone's seen a map of projected reserved spots and there is nowhere left to accomodate the approximately 100 owners in unit 1 who did not purchase a space. I'm concerned for my current parking needs and for the impact on rental /resale of my unit in the future. My question is: what, if any, rights do I have as a homeowner in this situation-- they changed the game midway through and, in addition to leaving us out to dry, deleted the post i put on the community forum to see if i was the only one concerned or if other phase 1 owners were. any feedback is greatly appreciated. thanks, rebekka
