Definition

1. Noun:
   • A type of housing: A building or complex of residential units where each unit is owned individually by its residents, while common areas and facilities are jointly owned and managed by all unit owners through an association.
   • An individually owned unit: One specific apartment or dwelling unit within such a building or complex.

Usage

• The term is used to describe a specific form of real estate ownership and the physical property itself.
• It is often abbreviated informally as "condo."
• It distinguishes a privately owned unit within a multi-unit building from a rental apartment or a single-family detached house.

Examples

• As a building/complex:
  • They decided to buy a condominium in the new downtown high-rise.
  • The condominium has a shared swimming pool and gym for all residents.
• As an individual unit:
  • Her condominium on the 12th floor has a beautiful view of the park.
  • He is renting out his condominium while he works abroad.

Advanced Usage

• Legal Structure: Refers to the system of ownership where owners hold title to their individual units and a share of the common elements.
  • The condominium declaration outlines the rules for the entire community.
• Condominium Association: The governing body of the condominium complex, responsible for maintenance, rules, and fees (often called HOA fees).
  • The condominium association voted to repaint the building's exterior.

Variants and Related Words

• Condo (n): A common, informal shortening of "condominium."
  • They are looking for a two-bedroom condo near the subway.
• Condominium Owner (n): A person who owns a unit in a condominium.
• Common Area (n): Spaces like lobbies, hallways, and amenities that are shared by all condominium owners.

Synonyms

• Apartment (for ownership): While "apartment" often implies renting, it can be used for the physical unit. "Condominium" specifies the ownership model.
• Unit: A general term for an individual dwelling within a larger building.

Related Phrases

• Condominium fees / HOA fees: Regular payments made by owners to the association for upkeep of common areas.
  • The condominium fees cover landscaping and trash removal.
• Condominium conversion: The process of changing a rental apartment building into a condominium.
  • The old apartment building underwent a condominium conversion last year.

Noun

1. housing consisting of a complex of dwelling units (as an apartment house) in which each unit is individually owned
2. one of the dwelling units in a condominium