An association is created that monitors the maintenance and operation of the marina. Individual owners are responsible for paying their monthly, quarterly, or annual association dues and for paying their own property taxes assessed on the slip. Dockominium conversions are a popular trend taking place in the marina industry in high demand areas focusing on the luxury markets.
A group is established to oversee the upkeep and management of the marina. Private property owners are accountable for paying their regular, periodic, or annual membership fees and for paying their own real estate taxes assessed on the dock. Dockominium conversions are a widely accepted pattern occurring in the marina sector in areas with high demand focusing on upscale markets.