I live in a planned development and don’t use the basement storage unit that came with my condominium. Lots of people in the development want another storage unit -- can I sell mine?
Probably not. The only way you would be able to sell your storage unit is if it is individually owned property, separable from your condominium unit, and if your development allows such sales.
In most condominium developments, storage units are either common areas (which cannot be sold), or included as part of the condominium units themselves (and not separately saleable).
The only way to know for sure what type of property your storage unit is, and whether you can sell it, is to study your development’s governing documents; particularly the Declaration of Covenants, Conditions, and Easements (CC&Rs), the Condominium Map, and any other relevant rules and regulations.
First, look at the description of the storage units on the Condominium Map and the CC&Rs. You must determine whether the storage areas are described as part of specific condominium units, common areas, or separate, individually owned property.
You can request a copy of your development’s Condominium Map and CC&Rs from your homeowners’ association (HOA). Also ask an HOA representative’s opinion on whether or not you can sell your storage unit. A knowledgeable representative might have some insight into or previous experience with the matter, and might also assist by directing you to any relevant provisions in the Map and governing documents.
An experienced attorney in your area can help confirm whether you own the storage area outright, and if so, whether you can sell it. If selling is an option, an attorney can also help you complete the documents necessary to make a sale (such as a deed). As you can see, a firm answer to your question requires further investigation. So, if you think it’s worth it, spend some time with your development’s governing documents -- and good luck!