Parking space licensed, not deeded?

Hi ,
I also have similar questions as my condo building is the same way.
Hoping to “bump” this very old post and get some input if anyone is experienced with this !
Also , would these kind of agreements be considered as valuable as a deeded spot ?

What rights, exactly, are in that 'license'? The ability for the licensor to revoke at any time (or even at the end of some period) makes it near worthless. So, no, this 'license' is significantly less valuable than a deeded spot. Also, do the math on the income of $50k invested, vs the offset 'savings' of a cheap(?) spot versus the going rate for garages in the area.

Seems like an insane arrangement unless you get the contract amended to give you actual perpetual rights or reimbursement schedule if license revoked.

Even yuppie N BK parking is like $300/mo.
So break even for $50k+$60/mo is like… 17 years lol.
If they revoke, ouch.