A developer creates a condominium project with 100 units. Unit 15A is assigned a unit factor of 1,200 out of a total of 100,000 for the entire project. What does this unit factor primarily determine?
Correct Answer
A) The unit's proportionate share of common expenses and voting rights
Unit factors determine each owner's proportionate share of common expenses, reserve fund contributions, and typically voting rights in the condominium corporation. This unit would be responsible for 1.2% (1,200/100,000) of common costs and decisions.
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A developer creates a condominium with 100 units. Unit 45 is assigned a unit factor of 1,200 while the total unit factors for all units equal 120,000. What percentage of the common expenses will the owner of Unit 45 be responsible for?