Q:Is it allowed to construct a room for renting out to ATM in an Apartment common area with permission from all the residents? Are there any laws against doing this? I am thinking of this to generate revenue to our association.
Latest Answer: Sasi Kanth, in our apartment we have got an ATM. When we had approached bank for details on legality of setting an ATM, we understood few things- if you already have a room for ATM in the common area of your apartment community, then you will have no need to take legal permissions. But if you have to construct a room for ATM newly then you will have to get permission.
You have to concentrate on one more thing, that is, banks will set up an ATM only if the location is profitable to them. Generally, if the ATM is inside a gated community then only the residents will be allowed to use it, if public is allowed to use then there will be security issues. Or you can think of constructing it along the compound wall such that the entrance for ATM will be outside, so that outsiders will also have access to it.
