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What is an office condo / How does it work?

April 26, 2017condo Office

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What is an office condo / How does it work?

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An office condominium is similar to any other office building with one major exception, each unit in the building has it own separate title and as such has a bundle of rights that are attached to real estate. The rights that are associated with this as real estate are to use, rent, sell, finance, or refrain from doing any of these things. The building is run by a property management company that takes direction from the condo board that is made up of elected unit holders of the condominium.