Home » To condo or not to condo » Condo Hybrids: the POTL

Condo Hybrids: the POTL

Sometimes row houses, or town houses, are built on a private street. This means certain conveniences, such as snow plowing and garbage/recycling pick up, which is usually provided by the city, are not available. In cases like these, the town houses can be freehold in the sense that the home owner is responsible for all of the maintenance of their property. But there are some maintenance fees for the parcel of tied land (POTL). The common driveway needs to be maintained, and garbage/recycling vehicles are hired privately to come into the complex. This idea appeals to many people who enjoy maintaining their own property. The fees are usually quite low compared to other condos, such as those where fees include exterior maintenance. When you’re think of buying a condo, check with your Realtor to find out exactly what the fees cover. That way you can plan for expenses that will be your responsibility.

But there are other POTL’s too. Any time there is a parcel of tied land that requires payment from several home owners, there is a type of condo fee involved. Some freehold home have a maintenance fee for a shared boulevard or berm or playground. Your Realtor knows what related schedules need to be added to an agreement of purchase and sale.


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