Condo appraisals are essential for both buyers and sellers to determine the fair market value of a condominium unit. One crucial aspect of the appraisal process is determining unit percentages, which is the proportionate share of ownership that each unit holds in the common areas of the condo building. In this blog, we’ll delve into the factors that influence unit percentages and how to calculate them accurately.

  1. Understand the Condo Declaration: The condo declaration is a legal document that outlines the proportionate share of ownership for each unit in the common areas. It typically includes details about the total number of units in the building and the percentage interest each unit holds. The declaration serves as a crucial reference point for determining unit percentages.
  2. Calculate Based on Square Footage: One common method to determine unit percentages is by calculating based on the square footage of each unit. Divide the square footage of a specific unit by the total square footage of all units in the building, then multiply by 100 to obtain the unit’s percentage interest.
  3. Consider Exclusive Use Areas: In some cases, certain units may have exclusive use areas, such as private patios or storage spaces. These exclusive areas may affect the overall unit percentage, so they should be taken into account during the appraisal process.
  4. Evaluate Floor Levels: Condos on different floor levels may have varying unit percentages due to factors such as accessibility, views, and amenities. Higher-level units with better views or additional amenities may have higher unit percentages.
  5. Assess Parking Spaces: Parking spaces are often considered limited common elements, which means they are associated with specific units. The number of parking spaces and their locations can influence the unit percentages for those particular units.
  6. Review Amenities and Facilities: The amenities and facilities available in the condo building, such as swimming pools, gyms, and common lounges, can also impact unit percentages. Units with closer access to these amenities may have higher percentages.
  7. Seek Professional Appraisal: To ensure accurate and reliable unit percentages, it is advisable to hire a professional appraiser experienced in condo appraisals. They will have the expertise to consider all relevant factors and provide an unbiased evaluation.
  8. Check Local Real Estate Market: The local real estate market conditions can also influence unit percentages. A booming market with high demand may lead to higher percentages, while a stagnant market may result in lower percentages.
  9. Consider Special Assessments: Special assessments for repairs or improvements to the condo building can impact unit percentages temporarily. Buyers and sellers should be aware of any ongoing or upcoming special assessments.
  10. Communicate with Condo Board: Reach out to the condo board or management to gain insight into any recent changes or developments that might affect unit percentages. They can provide valuable information about the condo’s financial health and future plans.


Determining unit percentages is a critical aspect of condo appraisals, as it directly affects the value of individual units and the overall fair market value of the condominium building. By considering factors such as square footage, exclusive use areas, floor levels, amenities, and parking spaces, you can calculate unit percentages accurately. Seek professional appraisal assistance to ensure a thorough evaluation that reflects the true worth of the condo units based on their share in the common areas. Understanding unit percentages empowers buyers and sellers to make informed decisions and navigate the condo market confidently.