However, it is both customary and advisable to outsource management to a professional management company, especially if there are several co-owners. The management company is chosen by the condominium associatio
A condominium is an individually owned residential unit within a larger complex, where owners share common spaces and amenities while paying association fees. What Is a Condominium? A condo is an individual unit within a larger residential complex comprised of similar units. Ownership of a condo us...
How is a co-op different from a condo? There are some keydifferences between a co-op and a condominium. Like co-ops, buying a condo means you’re buying into a shared property with other homebuyers. However, with a condo, you’re the owner of the property with a deed of ownership. ...
What Is a Condo? A condominium (or condo) is a privately owned individual residential unit situated within a community of other housing units—like a high-rise residential building, condo complex, or neighborhood of townhomes ortownhouses. A person often owns a condo in joint sovereignty with ...
What is a condo? A condominium, usually shortened to simply “condo,” is a privately owned, individual residential unit within a community of other units. In general, the owner usually owns the interior of their unit and the structural components of exterior walls. Condo owners jointly own sh...
Noncorporate entities are organizations without corporate status that engage in activities similar to corporations—such as councils, clubs, school PTAs, charitable organizations, and condominium associations. As long as these organizations do not engage in activities that generate a profit, they aren’t...
Condo insurance—also known as “condominium insurance” or “condo unit insurance”—is a type of insurance for people who own a condominium unit. Condo insurance covers things such as the unit owner’s personal belongings, improvements/upgrades they’ve made to their unit, lia...
REAL ESTATE; So what is a condominium anyway? The first in a two-part seriesL, David
What purpose does a condominium association serve? When you begin looking to buy a home, you may start by considering a condominium. This type of home is often attractive to people who are either just starting in home ownership or for individuals who want to avoid all the hassle of owning ...
People routinely incorporate US companies for projects as simple as owning a flat or a condominium. Corporations owned by foreign residents or noncitizens are still corporations. Disclaimer: This guide is not intended to and does not constitute legal or tax advice, recommendations, mediation, or ...