Our building has a covered garage with approx. 35 spots (149 units in the building) and an approximate 10 year waitlist to get a spot. The garage fee was $80/month until 2019 when it was raised to $100; and then this year the Board (4-3 split) decided to raise the fee to $125/month. Garage spot shareholders are complaining that this increase is unfair and meant to try and kick out elderly shareholders. The Board reasoned that the increase was because the current fee is much less than market rate (approx. $250+ in our neighborhood) so rather than increasing maintenance by 3% to cover the budget deficit, we raised the maintenance by 1% and increased the garage to bring it to $125. How have other Boards dealt with pushback about raising garage fees? My logic is that the shareholders are not entitled to a garage spot and Coop as a whole is a business and it makes business sense to raise the garage fees to be closer to market rate so that the building as a whole benefits financially. Anyone have any tips for how to deal with annoyed garage renters?Join the Conversation Comments (1)
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