Shared facilities agreements (also called cost sharing, joint use and mutual use agreements) are agreements covering lands or facilities which are shared by a condominium and another entity. The shared facilities or amenities may be exterior components like roadways, landscaping features, and underground services, or interior components like swimming pools, fitness facilities, and meeting rooms.
Interestingly, the Act does not currently require condominiums to have a shared facilities agreement. That will change once the amendments to the Act are in force so condominiums without them should discuss the issue with a condominium lawyer. Continue reading