Am I required to sign a lease on my parking space

[freestyle]

I own my condo unit and my parking spot. I have rented out my parking spot on a monthly basis to someone who lives in my condo building, it being a verbal agreement, and was going nicely.
Now the condo manager of the building says I have to fill out SUMMARY OF LEASE OR RENEWAL (clause 83 (1) (B) of the Condominium Act, 1998). In this document they want to know the rental payment amount and when due.

My question is why do I have to sign a lease, and why do they need to know how much I am charging for the rental of my parking spot? Are they entitled to a portion of this money?

[adjusterjack]

Re: Am I required to sign a lease on my parking space

The "why" doesn't matter. What matters is what the law says. You don't identify your location but the section you cite appears to be from the Ontario Canada Condominium Act, 1998.

Section 83 addresses the leasing of units and reads, in part, as follows:

"Notification by owner

83.

(1) The owner of a unit who leases the unit or renews a lease of the unit shall, within 30 days of entering into the lease or the renewal, as the case may be,

(a) notify the corporation that the unit is leased;

(b) provide the corporation with the lessee’s name, the owner’s address and a

copy of the lease or renewal or a summary of it in the form prescribed by the

Minister;"

At the beginning of the statute is a list of definitions:

"“unit” means a part of the property designated as a unit by the description and includes the space enclosed by its boundaries and all of the land, structures and fixtures within this space in accordance with the declaration and description;"

https://ccitoronto.org/sites/default...ndoAct1998.pdf

Your next step is to find the definition and description of "unit" in your condo declarations and see if the parking space is included in the definition of unit.

If it is, you comply.

If it isn't, you might be able to push back on the issue.

Where is your parking space in relation to your condo unit?

[freestyle]

Re: Am I required to sign a lease on my parking space

Yes I am in Toronto, ON.
I will check the condo declarations thank you!
My parking spot is in the underground garage underneath the condo building.
(would the condo company expect a payment from me for renting out my space, or is the form just for insurance purposes?)

[adjusterjack]

Re: Am I required to sign a lease on my parking space

(would the condo company expect a payment from me for renting out my space, or is the form just for insurance purposes?)

Answers to those questions should also be in your condo declarations.

[Lexus]

Re: Am I required to sign a lease on my parking space

If they allow you to sublet the parking space they could not demand a portion of the rent.
It is good to have a written agreement to avoid disputes, but you should peruse the agreement to know if there is any term included which is detrimental to you.

[freestyle]

Re: Am I required to sign a lease on my parking space

Ok, thank you, much appreciated!