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Playing Fair in the Sandbox. Establishing a Framework for Sharing is Even Harder

Author: 
STEFAN NESPOLI, LUIS HERNANDEZ
Publication date:
November 12, 2020
Article Summary: 

This article discusses the challenges and complexities of shared facilities in condominium communities. Shared facilities are spaces or amenities that multiple condominiums jointly use, such as garages, lobbies, gyms, and playgrounds. However, shared facilities often lead to disputes and governance issues due to poorly drafted shared facility agreements (SFAs) and lack of coordination between condominium corporations. The article emphasizes the importance of creating a clear and fair framework through well-drafted SFAs and shared reserve fund studies to manage maintenance, repair, and replacement of shared components. By establishing proper governance and funding mechanisms, condominium communities can successfully navigate the complexities of sharing and avoid potential conflicts.

Keywords: 

Shared Facilities, Shared Facility Agreements, Reserve Fund Studies, Condominium Communities, Governance, Maintenance, Repair, Replacement, Disputes, Coordination, Funding, Framework, Condominium Corporations.




Source Citation: 
STEFAN NESPOLI, LUIS HERNANDEZ
Playing Fair in the Sandbox. Establishing a Framework for Sharing is Even Harder
November 12, 2020
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