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Condominium - Wikipedia A condominium (or condo for short) is an ownership regime in which a building (or group of buildings) is divided into multiple units that are either each separately owned, or owned in common with exclusive rights of occupation by individual owners These individual units are surrounded by common areas that are jointly owned and managed by the owners of the units
What Is a Condominium? How Condos Work Compared to Apartments A condominium, or condo, is an individually owned unit in a complex or building of units A condo owner owns the space inside their condo and shares ownership interest in the community property
What’s a Condominium? Different Types of Condos Explained - RealAdvisor Cons of Buying a Condo Strict HOA Rules: Living in a condo is as good as the HOA association Strict rules are the #1 reason people don’t recommend living in a condo For example, your association might restrict the number of people, pets, guests, items to store, smoking, trash pickup, etc
What Is a Condo? Everything You Need to Know What is a condo? A simple condo definition, according to Michael Martirena, luxury real estate advisor at Compass in Miami, is as follows: an individual unit within a larger building or community
What is a condominium? | Rocket Mortgage A condo, also known as a condominium, is a housing or residential complex where individuals own their units Learn more about this affordable path to homeownership
What is a Condominium? The Complete Guide | Outpost Rules and Restrictions That Affect You Condominiums operate under CC Rs (Covenants, Conditions, and Restrictions) This is a document that outlines the rules all residents must follow, including tenants renting, as this information will be communicated to you by your landlord