Are tenancies in common risky?
All co-ownership forms (TICs, condominiums, cooperatives, partnerships, etc.) involve greater risk than owning individually. These risks need to be carefully evaluated, then weighed against the benefits of co-ownership such as lower acquisition cost and lower ongoing maintenance and management burdens. Most tenancy in common buyers are interested in comparing the risks of tenancy in common ownership to the risks of condominium ownership. In making this comparison, it is important to note that condominium ownership involves many of the same risks as TIC ownership, including those created by shared obligations such as common area maintenance and insurance, those created by the need for joint management and decision making, and those created by living with other co-owners in close proximity (noise, pets, parking, alterations etc.). The most significant additional risks associated with tenancy in common ownership are (i) larger shared obligations such as property tax and (in some cases) gr
