Wednesday, July 23, 2008
Ownership
Some thoughts on who owns the rooms, how it is owned and what co-op ownership of common space is.. your thoughts?
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Picture of a Storage Room
2 comments:
At the meeting yesterday many residents felt that they owned a part of the current storage rooms right now and did not want to give them up. Can someone calculate how much storage space (in square feet) someone like me ( 1BR with 100 shares) currently theoretically " owns".
I also want to remark that I think Robs idea is brilliant and I would be most interested in purchasing my own room. If the choice is between paying about
$ 4,000.00 for an immediate assessment plus maintenance increases for the next 5 years, versus paying $ 15,000 for a piece of real estate I own this really seems to be a no brainer! Thanks Rob for all the work you put into this.
Felicitas
"Own" isn't the right term. However, as communal space, everyone should be able to get some space (ideally). If you left no room for aisle space (which is not possible), the existing space works out to 0.15 sq.ft. per share. So for the 100 shares, 15 sq. ft. (3 ft X 5 ft). However, if you account for the aisle space that would be needed, the amount is roughly halved (3 ft. X 3 ft.).
Jim Stathakis
Rob: 0 Zero Zip..... You own none of the storage rooms. It is common space. It is like the hallways or lobby. You own none of it. Currently some resident occupy it for storage. We all own it together.
When I bought my apartment nothing in the sales contract mentioned that the unit came with dedicated storage space.
The fact that some realtors tell prospective buyers that the building comes with storage can be misleading.
Having said that, I do have a few things in the room on my floor and from this perspective am happy with the current situation.
I do recognize that the current system is highly unfair to many residents and am therefore strongly in favor of change. The money raised this way is a beautiful by product!
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