What misconceptions do people have about condos?
Many do not understand what a condo is, what is actually owned, and what it means to live in a community association. In essence, a condominium is a form of ownership whereby a person owns the entire condo unit (much like an apartment), but shares ownership of the rest of the building(s) and other property of the condo (e.g., roads, sidewalks, parks, clubhouse, pool, etc.) in common with the other owners. The owners elect a Board of Managers to handle the community’s finances, make repairs, enforce rules, oversee construction projects, etc.
