Leasing out car parking space in a condo.

[rayongchelsea]

If agreed by the committee and then verified by the agm is it possible ( within the law) to lease out under utilized car parking space to earn extra revenue for the co- owners.

Thanks.

Any one have experience of this.

[trogers]

No direct experience...but if your committee decides to go ahead, verify that the juristic body has 3rd party insurance to cover liabilities.

[Langsuan Man]

Our condo leases several parking spaces to a bank for their employee parking and our parking lot is utilized to the maximum, so it is legal so long as it was approved at the AGM

[Delight]

The approval has to be agreed at a general meeting, by official vote ,(EGM or AGM) . Minimum 50% of the building total vote must agree.

Edited December 15, 2013 by Delight

[rayongchelsea]

Our condo leases several parking spaces to a bank for their employee parking and our parking lot is utilized to the maximum, so it is legal so long as it was approved at the AGM

Thanks.

I know this is a somewhat silly question but how much do you charge approx. per space and is it a year renewal.

[Delight]

Suspect that the charging policy will be the least of your problems.For example if you agree say to lease out 10 spaces -how do you know that you have just 10 and not 15. Will you have to introduce parking passes. In which case you have to have a policing system and possibly a clamping system.

My guess for a charge be 500 to 1000 Baht/car/month.

Billing monthly or yearly typically will be decided as part of the negotiations with your client

[desmondspencer]

Not wire why would anyone do that, but wouldn't that compromise residents security??

[rak sa_ngop]

I have a parking space detailed on my condo Chanote and there is no problem renting out the space either through the condo office or privately. The parking area is always watched by security guards and CCTV so security not a problem.

As it happens my space is free at the moment so if anybody is looking for a permanent parking space near Soi 6 Silom please pm me. The going rate in my condo is 1500 baht a month.

[rayongchelsea]

Not wire why would anyone do that, but wouldn't that compromise residents security??

It is external parking spaces in front of our condo, but I think that is a point I would need to discuss with my committee.

[fletchsmile]

Yes it's possible. Our condo does this.

It rents the spaces on different bases. eg short stays, monthly, etc at different rates. As spaces inside the building were more limited, the agreement was that it would only apply to spaces outside the condo building within the condo grounds.

Think it's something like 1,000 baht a month +/- 500

Cheers

Fletch