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Updated over 2 years ago,
Shared Building Owners Responsibility
Hello everyone, just a little background first. We own a unit in a quad plex that we currently use as an STR. There are two other owners who also do STR. A, who owns half the building and B, who owns the unit directly below ours.
I could really use some advice on where I could find laws or regulations on the responsibility of the owners when costs arise such as roof repair, landscaping, exterior remodel…. Any guidance would be greatly appreciated.
Hey Tyler, it may be a mundane point but ... isn't all that spelled out in the ownership papers as they were drawn up? If not then, we (Roofing Co.) have usually gone by ... whichever unit has the leak, is the responsible party. Of course, the Contractor doesn't care "who" pays for things! :P Good luck!
Thanks for the reply. It was never brought up and I didn’t even think to ask about responsibility’s during the purchase.
How was this unit purchased? Is it a four unit condo? A Tenant in Common (TIC)? Either of those should have included either CC&Rs, Maintenance agreement or a TIC agreement. That is where this would all be spelled out. Generally State statutes govern the applicable requirements and responsibilities of these agreements. But in the US generally four and less units trigger different requirements than 5+ units (this is a general statement and comes from subdivision law which also uses that same threshold...again generally). So it is possible that because this was a four unit project that the documents that were prepared were overly simplistic. In any event the answer to your question should be in a document recorded on title that bear one of the above names, so go dig up that recorded doc and then you'll know what it does (or doesn't) say about the issue.