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Condo Documents Checklist: Recreational Agreement

Condo Documents Checklist: Recreational Agreement

While the purchase of any home requires paperwork, the documents associated with a low-maintenance condominium are a little different. It’s important to understand the ins-and-outs of condo documents and how they apply to you as a condo owner. This month, we’re addressing the recreational agreement.

What is Recreational Property? 

Recreational property is both common property and limited common property used by residents of a condo development and includes areas such as fitness rooms, pools, billiards rooms, rec rooms etc.

What is a Recreational Agreement? 

Your recreational agreement falls under the purchase agreement of your condo and asks that you agree to the terms of the recreational property. The agreements are put into place by the condo board to ensure everyone follows their rules when it comes to using these facilities. In addition to acknowledging any hours of operation, the agreement will cover who can use the facilities, which are available to outside guests, and more.

Does This Agreement Work With My Lifestyle? 

A large part of what attracts people to condo living is these shared facilities. For this reason, during your condo search, you’ll want to think about how these agreements will affect your daily activities.

For instance, if you’re an early riser wanting to go for a swim at 5:00 am but the pool opens at 10:00 am, the agreement outlined by the condo may not work for you. The same might apply to other areas such as the fitness facility – you may not be able to bring an outside gym buddy. These are important factors to consider when signing a recreational agreement. You want to ensure it benefits you and you are getting the complete package out of your condo agreement.

Because these agreements will vary from condo development to development, with a little searching, you’re guaranteed to find one that suits your needs.

What if I Won’t Be Using the Recreational Property? 

If you won’t be using the recreational facilities it may be worthwhile to explore buildings that don’t have these amenities. Generally speaking, condos without recreational property are less expensive as there are costs associated with maintaining these areas (factored into your monthly condo fees).

Recreational spaces represent one the biggest benefits of purchasing a condo. So, while you’re searching, you’ll want to contemplate what you’ll need out of a recreational agreement. Once you have a clear indication of how you will be using these shared spaces, you can sign this document without concern and enjoy your new low-maintenance lifestyle.

 

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About The Author

Sereena S.

Mom of two, wife to one, and a dog lover, although cats can be okay too. Sometimes.

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