Parking and Motorcycle Stalls Rental Policy
All Parking and Motorcycle Stalls are common property and owned by the corporation. Each unit is assigned the use of one Parking Stall. Owners may choose to rent out their one assigned stall but only to a resident of the building. Any such rental agreement is between the owner of the unit and their renter. As with any rental agreement the unit owner is responsible for the terms of the agreement and collection of rent. The owner is also responsible for any damage to the parking stall or bylaw infringements.
We currently have 4 extra Parking Stalls beyond the one per unit as well as 4 Motorcycle Stalls. In fairness to all owners, these eight stalls are assigned to the Chanticleer Condominium Corporation with any associated rental revenue deemed income to the corporation to offset expenses. The rental rates will be determined by the Board on an annual basis when setting the budget, using the following criteria:
- the Parking Stall rental rate is set at $80.00 per month for the 2017/18 fiscal year.
- the Motorcycle Stall rental rate is set at $20.00 per month for the 2019/20 fiscal year.
- the rental rates will change at the beginning of each fiscal year by a percentage equivalent to the percentage change to condominium fees (if any) as approved by the Board.
Current users of the four extra Parking Stalls will continue to have use of those stalls if they are willing to sign a Parking Rental Agreement and pay the Parking Stall rental rate accordingly. These current users must be owners or resident family of owners to be eligible for this priority use.
The Management Company will maintain a list of owners interested in renting an extra Parking Stall or a Motorcycle Stall on a first come basis.
- Residents with mobility issues may be given priority on the waiting list.
- Resident owners may be given priority on the waiting list before tenants.
- If a unit changes residency or ownership the rental stall will return to the rental pool.
- An owner may apply for a rental stall on behalf of their tenant. Responsibility for damages and compliance with bylaws remains with the unit owner.
- If an owner is offered rental of a stall and refuses, their name will be moved to the bottom of the list or removed if the owner prefers.
The Management Company will ensure the Chanticleer Parking Rental Agreement is signed by each of the owners renting the four extra Parking Stalls or the four Motorcycle Stalls and will collect the appropriate rental accordingly. The Management Company will advise owners of any changes to the rental rates at the beginning of each fiscal year, Parking Stall and Motorcycle Stall rental may be paid either monthly by pre-authorized debit or yearly, in advance, by cash or cheque. Pre-paid parking will be refunded on a prorated basis with an administration fee equal to 1/2 of 1 month’s rent, should the rental be terminated early.