FAQ

Why is a Garage Solution Condominium a good investment?

Purchasing a Garage Solution Condominium is a good investment:

• If you are unable to build your own storage building due to lack of acreage, city ordinances, covenants, expense or time constraints, owning a condominium is an excellent investment versus renting.
• If you elect to finance the purchase, on a square foot basis, a mortgage payment can be competitive with rental properties.
• A mortgage payment ends versus a rental payment, which does not.
• No enduring rental increases or renewal hassles.
• The property will be an asset on your personal financial statement.
• You may experience a return on investment due to appreciation (market conditions apply).
• Owning may offer tax benefits such as depreciation and deductible mortgage interest (consult with a tax professional).
• Expenses for improvements can be recaptured at the time of the sale of a unit.

What is the Garage Solution Condominium Owners Association?

Unit owners become members of an association, which will allow them to enjoy a partnership participation in the management and maintenance decisions regarding the common areas. The association will be responsible for collecting monthly dues, which will then be used to pay for items such as; property insurance for common areas, shared utilities, landscape maintenance, snow removal, garbage removal, and miscellaneous repairs.

What type of security is available?

Security is a top priority for Garage Solution Condominiums:

• Fencing will secure the entire perimeter of the property.
• The entrance will be gated with access allowed exclusively to owners.
• Security lighting will cover all common areas.
• A security camera system will cover the entrance and common areas.
• Individual units will be wired for security system with internet access.
• An optional security camera may be installed with internet access.

Who pays for property insurance?

The association will carry an insurance policy to cover the common building elements and common areas shared by all owners.
Individual owners will be responsible to carry an insurance policy to cover their own unit, any improvements, and the contents.

How are taxes paid?

Individual owners will be responsible to pay property taxes on their unit as identified by the county, which is estimated to be less than 1% if identified as a non-residential homestead.

How is heat paid?

The association will pay the utility bill for heat.

Is water available in the individual units?

Yes. Water will be plumbed to each unit and a hose spigot will be installed.

What common amenities are available?

• Handicapped accessible Mens and Ladies restrooms will be available to all owners.
• An RV dump station will be available to all owners.
• A common area dumpster will be available to all owners.