Hangar condominium ownership explained
A lot of hangar 'ownership' is actually condominium ownership, and it works much like owning a condo apartment, you own your unit and share the rest. It is a structure that catches first-time buyers off guard, because what you own is more specific than 'a hangar.' Here is how hangar condominium ownership works.
A hangar condominium works like a residential condo: you own your individual hangar unit outright, and you share ownership of the common elements, the taxiways, aprons, access roads and shared infrastructure, with the other unit owners through an owners' association. You pay association dues that cover the upkeep, insurance and management of those common areas. The land underneath is often held under a ground lease with the airport authority rather than owned, so the condominium sits on leased ground with a defined term. Before buying, you check the association's rules and financial health, the dues, and the terms of the underlying ground lease.
What you own and what you share
| Element | Ownership | How it works |
|---|---|---|
| Your hangar unit | You own the individual hangar unit. | You hold title to it, can sell it, and within the rules use it as you wish. |
| Common elements | Owned collectively by all unit owners. | Taxiways, ramps, access roads, drainage and shared services are managed through the owners' association. |
| Your deed | Reflects both your unit and your share of the common elements. | The ownership structure works much like a residential condominium. |
What to check before buying
- 1
Condominium documents
Review the condominium documents and association rules.
- 2
Dues and assessments
Check the current dues and any planned assessments.
- 3
Reserves
Review the association's reserves and financial health.
- 4
Ground lease
Check the terms and remaining length of the underlying ground lease.
- 5
Long-term impact
These determine what you can do with the unit and what it will cost you over time.
The association and dues
- An owners' association manages the common areas and enforces the rules.
- You pay regular dues that fund maintenance, insurance, and management of the shared elements.
- The association's rules govern what owners can and cannot do, use, modifications, subleasing.
- The association's financial health matters: reserves and budgeting affect future special assessments.
In a hangar condominium, the individual hangar unit is yours, you hold title to it, can sell it, and (within the rules) use it as you wish. What you do not own alone are the common elements: the taxiways, ramps, access roads, drainage and shared services that every unit relies on. Those are owned collectively by all the unit owners and managed by an owners' association, just as the hallways and grounds of a residential condo are. Your deed reflects both your unit and your share of the common elements.
Before buying a hangar condominium, review the condominium documents and association rules, the current dues and any planned assessments, the association's reserves and financial health, and the terms and remaining length of the underlying ground lease. These determine what you can do with the unit and what it will cost you over time. GFTS Hangars can explain the structure of hangar ownership in Southwest Florida. See Hangar Sales for ownership options.
Frequently Asked Questions
-
What is a hangar condominium?
A hangar condominium is an ownership structure where you own your individual hangar unit outright and share ownership of the common elements, taxiways, ramps and shared infrastructure, with other owners through an association, much like a residential condo. You pay dues for the upkeep of the shared areas. -
Do I own the land with a hangar condo?
Often not. The land is frequently held under a ground lease with the airport authority, so the condominium sits on leased ground with a defined term. You own your unit and share the common elements, but the underlying land is typically leased rather than owned. -
What should I check before buying a hangar condominium?
Review the condominium documents and association rules, the dues and any planned special assessments, the association's reserves and financial health, and the terms and remaining length of the underlying ground lease. These shape what you can do with the unit and its long-term cost.
Hangar space in Southwest Florida
GFTS Hangars offers aircraft hangar sales, rental and storage at Immokalee in Southwest Florida, an inland location away from the coastal salt air that drives corrosion, with hurricane-built structures. Talk to us about buying, leasing or storing an aircraft, and we will walk you through the options for your aircraft and your budget.
gftshangars.com·sales·rental·storage·Southwest Florida
