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What makes it a Condo?
What makes it a Condominium? Is it a Condominium ? A condominium or condo is a form of housing occupancy. Technically a condominium is a collection of individual homes along a land which they are affixed on. Colloquially the term condo simply refers to a unit replacing the term “apartment” as the latter seems less posh. Commonly the ownership of a condominium unit is comprised of the air and space within the unit’s boundaries. Some minor interior modifications are allowed as long as it will not affect a common area. Common areas are hallways, rec rooms and other facilities that are jointly “owned” or are enjoyed by any if not all tenants. The Declaration of Condominium is a document that states the rules and restrictions established by the Board. Such rules typically include pet restrictions, mandatory maintenance or maintenance fees, and other modifications of a condo unit. Condominium units can either be owned or merely leased. Contrary to common belief condos do not merely consist of residential abodes. To date condominiums are now being used as office spaces, retail shops, facilities such as a salon or gym, retirement homes, dormitories or as hotel rooms. These of course are called non residential condominiums. A lot of people, those who are single or are just starting a family opt to live in condos. This is because of the many benefits of condo living, usually condos come fully furnished and is often reasonably priced. The affordability is its main selling point, its definitely cheaper than building from the ground up in a limited time frame. Usually condominiums are located in accessible areas which work well for folks who work non stop but still find that they need to come home occasionally. Another perk of condo living is the availability of utilities and facilities that would have been unattainable especially for those who are pressed for time. Most condominiums come equipped with their own gyms, salons, swimming pools, clubhouses etc. If not rest assured that they are located near one. Another condo living perk is the 24 hours security service, the doorman or help desk that definitely makes living there safe, comfortable and enjoyable. |
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The copyright for this content entitled "What makes it a Condo?" has been specified by the contributor as:
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This intel was contributed by Howard
Howard
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May, 2012
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