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Condominium aka condo is a unit in a Multi-unit building. The owner of a condominium unit owns the unit itself and has the right, along with other owners, to use the common areas but does not own the common elements such as the exterior walls, floors and ceilings or the structural systems outside of the unit; these are owned by the condominium association. There are usually condominium association fees for building maintenance, property upkeep, taxes and insurance on the common areas and reserves for improvements.
This is a blog post for Real Estate Professionals, Investors, Landlord, Property Manager, and Property Management Companies. Condominium is brought to you by SimplifyEm Pay Rent Online and Property Management SoftwareYou might also want to read:
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