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What is condominium ownership?

It refers to a unique form of property ownership where individuals own a specific unit within a larger building or complex but also share ownership of the common areas and amenities with other residents. This setup combines elements of private ownership (the individual unit) and collective ownership (shared spaces).

Condo owners have full ownership rights to their individual unit. This means they have control over the interior of their unit, subject to any condo association rules, and are responsible for maintaining it. They can renovate or decorate as they like, within the regulations set by the condo association.

They must abide by the association's rules, which might cover things like noise levels, pet policies, and what can or cannot be done on balconies. These rules ensure that shared spaces are maintained and that residents respect one another's space and the property’s overall appearance.

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