What are the advantages of a condominium and how does condominium ownership work?
A condominium is a legal form of shared ownership, where the owner holds title to the individual apartment home, and a shared interest in the building and grounds common elements. A condominium allows for the financial benefits of ownership while leaving the chores of property upkeep and maintenance to our professional property managers. Residents will purchase their condominium homes outright, and pay a monthly condo fee to fund all shared common area expenses. Additionally, the condominium corporation will also save the individual owner money on longer-term upkeep of the building, such as roof maintenance, because the cost is shared by all residents.
