This question cannot be answered without a more detailed look at the title. However, it is wholly possible that things are fine. If I were buying, my investigation would go along the following lines:
1. Are the common areas vested in the Management company?
2. Is the Management Company owned outright by the apartment owners - i.e. developer no longer running show?
3. Is every apartment in the same boat - i.e. there is one space per apartment and it is designated, but not formally recorded on the deeds?
If the answer to all of these was yes, I would not be too concerned. As a member of the company, your rights would be the same as those of every other member. It would not be open to the company to victimise you by taking away your space and leaving others. This would entitle you to a remedy in company law quite independently of your rights as set out in the title deeds.
Note that this would not be the exact equivalent of having a lease or licence over the parking space. For instance, it would in theory be open the the management company to sell off the parking spaces (but not so as to advantage one set of members at the expense of another - they would have to sell all, and there would of course have to be a vote). But what are the actual chances of this? Fairly slim I would say.
Basically, your questions should be aimed at ensuring that all owners have the same rights, and that there are no avenues through which you could lose out relative to the other owners. Think of it as being like a golf club - you may not own your locker, but each member is entitled to have one.
If you got this, I think you could probably go ahead without being too worried.