Condo Parking & Locker Ownership, Explained

In Ontario, a condo parking spot or locker can be owned in one of three ways. It can be deeded, which means you own it as its own unit. It can be an exclusive-use common element, which means you have the sole right to use it but do not own it on title. Or it can be leased from the condo corporation. Each type gives you different rights to sell, rent out or change the space. Find out which type you are getting before you sign.

This guide explains each type in plain words. It also shows what to check, what to ask your lawyer and how the type can change your costs.

The Three Ways to Own a Spot or Locker

Buyers often focus on the view, the layout and the finishes. Parking and storage get less attention. That can be a costly mistake. A good spot is hard to replace in a busy building. The way you hold it decides what you can do with it.

1. Deeded Ownership

This gives you the most control. The spot or locker is its own legal unit. It has its own property identification number, called a PIN, and its own record at the Ontario land registry. You get a separate deed for it, along with the deed for your suite.

Because it is a separate unit, you can usually sell it, lease it or even use it to secure a loan. It does not have to go with your suite. That makes it flexible.

There is one catch. The condo's declaration, which is the building's main legal paper, often limits who can buy or rent it. Most buildings only allow a sale or lease to another owner in the same building. This keeps outsiders out of the private garage. Even so, deeded spots are popular. Neighbours can trade or rent them without any change to their suites.

2. Exclusive-Use Common Elements

This is very common in towers and townhouse complexes. Here you do not own the spot. All the owners own the whole garage together. The declaration then gives your suite the sole right to use one stall or locker.

No one else may use it. But it is tied to your suite. You cannot sell it by itself. You cannot rent it out unless the building rules clearly allow it. When you sell your suite, the right goes to the new buyer automatically.

This is safe and simple. You just lose the freedom to trade or earn money from the spot.

3. Leased From the Condo Corporation

This is the least secure type. The corporation owns the stalls and lockers. You pay a monthly or yearly fee to use one. A lease is a legal agreement that lets you use something for a set time in return for payment.

The board may be able to change fees, move your spot or end the lease under certain rules. Also, a leased spot does not always go to the next buyer. The new owner may need to sign a new lease. They may have to join a waitlist. Older buildings often use this model. It can make a resale harder if parking is in demand.

Why the Type Matters Before You Buy

The type of ownership is not just a legal detail. It affects your money, your plans and your daily life.

• Extra income. If you do not own a car, a deeded spot can be rented to a neighbour. You may not be allowed to rent an exclusive-use spot.
• Resale. A spot that cannot be separated is easy to sell with the suite. A leased spot may not go with it at all.
• Mortgage. Your lender wants to know what the mortgage covers. A deeded spot with its own PIN is its own item in the paperwork.
• Property tax. A deeded spot may get its own tax bill. An exclusive-use spot does not. Its value sits inside the suite's tax.
• Cost to change it. Things like adding a charger can depend on the type.

Ask for every detail in writing. Do not rely on a listing sheet or a sales brochure alone. A listing may say "parking included" without saying how it is held.

The Buyer's Checklist

Use these steps for any condo, whether it is in Mississauga, Oakville, Burlington or Milton.

Step 1: Verify the Legal Facts

Your lawyer should check the status certificate, the declaration and the registered plans. They make sure the papers in your offer match the real unit, level and PIN at the land registry. Sellers are sometimes unsure how their spot is held. Only the paperwork gives a final answer. Read more in our guide to the condo status certificate.

Make the review a condition of your offer. If you are unsure how that works, see Understanding Offer Conditions in Ontario Real Estate.

Step 2: Visit the Spot in Person

A plan can look fine while the real spot is tight. Go to the garage during your viewing. Then check the following.

• Is the spot near a concrete pillar that limits your car doors?
• Is the ceiling high enough for your vehicle and any roof rack?
• Is the stall wide and long enough?
• Is it a tandem spot? A tandem spot holds two cars nose to tail. You must work out with the other driver who moves first.
• How far is it from the elevator?
• Is the spot well lit and safe?

Step 3: Check the Locker

Look at the locker too. Find out how big it is. See if it is dry and secure. Check whether it is on the same floor as your spot or in a far corner. Ask if it is a separate unit, an exclusive-use space or a lease. Remember that a locker can follow different rules from your parking spot.

Step 4: Think About Electric Cars

More drivers want to charge at home. Adding a charger in an older garage can be hard and costly. The board may have rules for how it is done. In an exclusive-use spot, you may need a written agreement with the corporation. It sets out who pays for the install, the upkeep and the insurance.

The building's power supply can also limit new chargers. If it is near its limit, the board may refuse requests or create a waitlist. Ask early what the building allows.

Step 5: Ask About Visitor and Extra Parking

Your own spot is not the only thing to check. Ask how visitor parking works. Find out if there are paid spots for extra cars. Learn whether street parking is allowed nearby. A second car can be a big issue if the building has few extra stalls.