"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."
A unit in a multi-unit building that is individually owned and can be bought or sold.
What is a Condominium?: An introduction to the concept of condominium living, including ownership and management structures, community living, and ownership rights.
Types of condominiums: Understanding the different types of condominiums and their unique characteristics, such as low-rise, mid-rise, and high-rise, among others.
Condominium Governance: An overview of the legalities and regulations governing condominiums, including property laws, zoning regulations, and homeowner association mandates.
Condominium Ownership: The rights and responsibilities of condominium ownership, including maintenance fees, assessments, and association fees.
Property Management: Organizing and maintaining the buildings, properties, and common areas of the condominium.
Environmental Concerns: Identifying environmental concerns and developing sustainable solutions in condominium management, including waste management, energy efficiency, and water conservation.
Legal Issues: Understanding the rights of condominium owners, shareholders, and management in legal proceedings and disputes, including taxes, insurance, and bylaws.
Investment and Financing: Assessing the viability of investing in condominiums, including the risks associated with property management, vacancy rates, and homeowner association fees.
Condo Buying Process: The process of buying a condominium, including finding a broker, negotiating the purchase contract, and closing on the sale.
Community Life: Exploring the social and cultural aspects of condo living, including community-building, neighborhood events, and recreational amenities.
High-rise Condominiums: Typically located in busy urban areas, high-rise condos appeal to individuals who prioritize accessibility and convenience. Units in these towering structures offer breathtaking views of the cityscape and a wide range of amenities.
Low-rise Condominiums: These types of condominiums feature fewer stories than high-rise condos and smaller numbers of residents. Low-rise condominiums are popular among seniors or those who prefer a quieter living environment.
Loft Condominiums: These condos typically feature large, open-concept spaces with high ceilings and exposed brick or concrete. This type of condominium is often found in renovated industrial buildings.
Garden Condominiums: Garden condos typically offer residents a backyard or balcony, creating a sense of having a private outdoor space. They typically feature one or two stories.
Townhouse Condominiums: Townhouse condo units offer residents a similar living arrangement to a traditional townhome, except that they're typically part of a larger complex. Townhouse condos are ideal for families with children or those who desire more living space.
Duplex Condominiums: These condos feature two units attached to each other, with separate entrances for each unit. They're often found in quiet residential neighborhoods.
Mixed-use Condominiums: Many new condominium developments are incorporating commercial spaces on the street level to create a vibrant livable street environment for residents. With the emergence of the live-work trend, all-in-one communities are becoming increasingly popular.
Waterfront Condominiums: Waterfront condos are often found in coastal areas and offer residents breathtaking views of the ocean or lake. They're popular with those who love water sports and beach activities.
Green Condominiums: These types of condominiums are built with sustainability in mind. They use energy-efficient technologies and environmentally friendly building materials, which can help conserve resources and lower energy bills.
Luxury Condominiums: Luxury condos feature top-of-the-line finishes, high-end appliances, and often include the latest in-home technology. These condos are designed to offer the best in luxury living, with amenities such as spas, fitness centers, and 24-hour concierge services.
"These individual units are surrounded by common areas that are jointly owned and managed by the owners of the units."
"The term can be applied to the building or complex itself, and is sometimes applied to individual units."
"The term 'condominium' is mostly used in the US and Canada, but similar arrangements are used in many other countries under different names."
"Residential condominiums are frequently constructed as apartment buildings. There are also rowhouse style condominiums, in which the units open directly to the outside and are not stacked. Alternatively, 'detached condominiums' look like single-family homes, but the yards (gardens), building exteriors, and streets, as well as any recreational facilities, are jointly owned and maintained by a community association."
"Many shopping malls are commercial condominiums in which the individual retail and office spaces are owned by the businesses that occupy them, while the common areas of the mall are collectively owned by all the business entities that own the individual spaces."
"Unlike apartments, which are leased by their tenants, in most systems condominium units are owned outright, and the owners of the individual units also collectively own the common areas of the property."
"The common areas, amenities, and utilities are managed collectively by the owners through their association, such as a homeowner association or its equivalent."
"Scholars have traced the earliest known use of the condominium form of tenure to a document from first-century Babylon."
"The word condominium originated in Latin."
"The owners of the individual units also collectively own the common areas of the property, as well as common utilities and amenities, such as the HVAC system and elevators."
"Detached condominiums look like single-family homes, but the yards (gardens), building exteriors, and streets, as well as any recreational facilities, are jointly owned and maintained by a community association."
"Similar arrangements are used in many other countries under different names."
"the exterior of the building, roof, corridors/hallways, walkways, and laundry rooms."
"The common areas, amenities, and utilities are managed collectively by the owners through their association, such as a homeowner association or its equivalent."
"In most systems condominium units are owned outright, whereas apartments are leased by tenants."
"in which the units open directly to the outside and are not stacked."
"the individual retail and office spaces are owned by the businesses that occupy them, while the common areas of the mall are collectively owned by all the business entities that own the individual spaces."
"Similar arrangements are used in many other countries under different names."
"the owners of the individual units also collectively own the common areas of the property."