Calgary Answers · Condos · Parking

Titled, Assigned or Leasedcondo parking

Three different things that all look identical when you are standing in the parkade — and one of them may not come with the unit at all.

The three kinds

Why the difference matters

A titled stall is an asset. It has value, it appears on title, and it is yours to keep or sell. An assigned stall generally transfers with the unit but sits under the corporation's rules. A leased stall is an ongoing cost that might end, and if it does not transfer you may find yourself owning a downtown condo with nowhere to park.

In central Calgary this is not academic. Parking is genuinely scarce in some buildings and areas, and a unit without secure parking sells to a materially smaller pool of buyers.

Check the title and the documents, not the listing. "Parking included" in listing copy has meant all three of these things, and the difference can be tens of thousands of dollars.

Does underground parking add value?

In this climate, yes — meaningfully. A car that starts, that you do not scrape, and that is not exposed to hail is worth a great deal through a Calgary winter and summer. Underground and heated parkades are among the more reliable value features in a condo, and among the first things buyers filter for.

Two things worth checking: whether the parkade has had water or membrane problems, which are expensive and a classic special-assessment trigger, and whether your stall is a genuinely usable size rather than a compact space beside a pillar.

Storage lockers work the same way

Lockers are titled, assigned or leased on exactly the same basis, and are not automatically included with a unit. Confirm whether there is one, which one it is, and how it is held.

In a smaller condo a locker matters more than buyers expect — it is where the seasonal tires, the bikes and the Christmas decorations live in a home without a basement or a garage.