Bike Rack in Individual Condo Parking Lot: Good idea?

Discussion in 'Real Estate General Discussions' started by admc, May 12, 2010.

  1. admc

    admc New Member

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    My condo is giving owners the option of getting the following bike racks (below) installed (at owner's expense, of course) in our individual parking spots.

    It seems like a good idea, but I'm wondering if having a personal bike rack would add value to my condo if I decided to sell it in the future. Our condo does have bike racks installled (just not in individual parking spaces), so it's not like residents don't have a place to store their bikes.

    With that said, though, the real reason for me wanting to get the rack installed is not to lock my bicycle. Rather, it'll be used to lock my future motorcycle (btw, I'll be chaining the motorcycle's front wheel to the rack with the bike leveled on two wheels, as opposed to lifting it up on its back wheel as in the pictures below). I understand that left of motorbikes is a bit of a problem in condo parking lots, so maybe potential buyers with motorcycles might think this is a good thing.

    Any thoughts?

    [​IMG][​IMG][​IMG][​IMG][​IMG]
     
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  2. UrbanVigor

    UrbanVigor Active Member

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    How much do they cost?

    Especially since residents already have a place to store their bikes, any increase in value will only be appreciated by a niche group. That is, avid cyclists who like the convenience of throwing the bike in their car for road trips.

    However, it is a real cool convenience that would be preferably by most people. But how much more would someone be willing to pay if they have the option to it themselves just as you are able to?

    So the cost really matters. I think this may strictly be a personal choice decision.
     
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  3. admc

    admc New Member

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    For a rack that holds a single bike, the cost is $450. For two bikes, it's $550.

    Since it's management that is undertaking the installation, residents are allowed the option of having bike racks installed in their parking spaces. I asked if I could do it myself in the future and they said "no". Also, the condo regulations state that once installed, residents aren't allowed to take them out, which might pose a problem.

    Right now, my parking space is just large enough to accommodate both the rack and a station wagon (Subaru Outback). But, if I decided to get a larger car (like an SUV or a large sedan) in the future, then there will be a problem. Because of the condo regulation (can't take off the rack once installed), the only way of fixing the problem is to get rid of the large car (as opposed to the rack).

    This, of course, is not a great solution. And I can see how this may dissuade potential buyers with larger cars from considering purchasing my condo.

    Also, I don't know if this is relevant, but management has told me that very few owners are getting the racks installed in their parking spaces.
     
    Last edited: May 12, 2010
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  4. UrbanVigor

    UrbanVigor Active Member

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    Do you need the rack for your own bike(s)?
     
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  5. Team Me

    Team Me Active Member

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    If you're thinking of using it somehow for a motorcycle, you may want to check with your management company/condo board first. A lot of these sorts of things are highly regulated, and they may have something written into the condo rules that states the bike racks may only be used for bicycles...I know my condo has that clearly written in.

    It may save you some money if that's what you're looking to use it for...only to be unable to do it once installed.
     
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  6. admc

    admc New Member

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    I have a foldable bicycle, so I can easily store it in my unit. I was really only thinking about getting the rack for my future motorcycle. I was originally thinking about installing an anchor (where I could attach a chain to my motorbike) myself, but management told me that I couldn't. Having the condo install an approved bike rack (where I could easily chain my motorcycle to) seems like the next best thing.

    Team Me: that's a good point. I never thought to look into seeing whether my condo had a bylaw prohibiting using bike racks for motorcycles. I'll have to look into it.
     
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  7. UrbanVigor

    UrbanVigor Active Member

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    If you're going to get use out of it yourself then it's worth the cost. Any increase in value of your unit is inconsequential.
     
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  8. urbandreamer

    urbandreamer recession proof

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    I'd rather install a tire on the wall so I wouldn't damage my car. I see lots of potential bashed bumpers in this building.
     
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  9. PinkLucy

    PinkLucy Moderator Staff Member

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    When we bought our condo, I noticed that some parking spots had these racks installed. I wanted to get one because we have more than one bike each, and we're only given two bike spots so our issue is where do we store the other bikes? We were told that the board was no longer allowing owners to install the racks in their parking spots, so unless you buy a unit that already has the rack, you're SOL.
     
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  10. jaxcondo

    jaxcondo Guest

    You are better off with these racks. The condo we used to live in didn't allow bikes in the elevators or rolled through common areas. Those rules prompted the condo to create bike racks at the no charge for those owners with no parking spots - for the owners with spots, the condo encouraged bike racks at a minimal cost of $400-$500 for two, installed.
     
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  11. shoegazer

    shoegazer New Member

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  12. PinkLucy

    PinkLucy Moderator Staff Member

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    Condo I am now living in allows bike racks in parking spots :)

    Shoegazer -- you shouldn't limit your survey to tenants; it should also include owners. We ride bikes too.
     
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  13. shoegazer

    shoegazer New Member

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    PinkLucy: It's actually intended for residents, including owners (as long as they live there). I've changed the wording on the first page. Thanks for catching it.
     
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  14. James

    James Senior Member

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    For downtown condos, I do like the idea of having these installed. Most downtown condo owners who do drive usually don't drive big cars so the slight reduced clearance due to the racks won't be a big issue (as seen from the photos above). For uptown condos, however, I'm not sure if it'll be a value added feature for future buyers since it does eat up what looks like a foot or so of parking space.
     
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  15. PinkLucy

    PinkLucy Moderator Staff Member

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    I have seen some that swing to the side so once the bike is in the rack, you swing it so that the bike is flat against the wall
     
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