500 Piney Narrows Road Chester, MD 21619 Office 410.643.6600/Fax 410.643.6041

Condominium Slips

A condominium slip is similar to an apartment condominium in that the owner receives a "fee simple" deed (which is insurable and recorded in the County Land Records) which carries with it the exclusive right to use the slip. Further the owner receives an undivided interest in all condominium property (referred to as common elements) as specified in the condominium documents which, in this case, includes the piers, swimming pool, parking lots, etc.

Piney Narrows is set up under Maryland's condominium laws where actual title is passed from one owner to another. The term "dockominiums" has been used by many marina developers to represent other forms of quasi ownership and should not be confused with a condominium.

Is This a Rental as Well as Ownership Facility?

ABSOLUTELY, YES! More than 50% of the slips are owned by individuals who make them available for rent. Renters and owners that occupy their slips have the same privileges regarding the use of marina facilities.

In the event a slip is sold, the purchaser must honor any current rental agreement through its expiration date. Upon expiration of the rental period, every effort is made to provide the occupant another suitable slip.

Why a Marina Condominium?

Spiraling slip rental rates have had a major impact on the marine industry in recent years. Due to a substantial decrease in the number of available slips on the Chesapeake, demand for slips has been responsible for these dramatic increases. Owning your own slip locks in the yearly slip expenditures and insures that you will have a slip in the future. Just as most homeowners have found that owning their own home is much cheaper than renting, many slip owners have found that owning their own slip cuts expenses.

Owning your own slip also provides control over your boat's home port environment. Your slip can not be sold or rented without your permission and you do not have to worry about your marina being converted to a housing development, shopping mall, etc. You own your property and no one can evict you!

Who Operates the Marina?

The marina is operated by a nine member Board of Directors, elected by the unit owners, which establishes the budget and sets operating policies. A management company, under contract with the Condominium Association, provides professional services and is responsible for the day to day operations.

What are the Operating Costs?

Each year, the Board, with the assistance of the management company, prepares a budget for insuring, operating and maintaining the marina. The budget also provides a capital reserve fund for future expenses such as dredging, piling replacement and other major repairs. Each condominium unit supports a proportional share of the budget. In addition, owners receive an annual real estate tax assessment, and an annual insurance assessment. Electric, telephone and other utilities are billed directly to the owners. Water and cable TV are included in the marina budget. Piney Narrows is unique among condominiums in that it owns and operates its own fuel dock facility. A large portion of the marina's expenses are paid for by the fuel dock profits.