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An apartment building can be owned by one party and each of the apartments rented to tenants or each of the apartments can be owned as a condominium by separate parties. Mixed-use building – a building with space for both commercial, business, or office use, and space for residential use.
Buying a condominium means buying an individual unit in a property with public areas owned and managed by a homeowner's association. Buying an apartment usually means buying a share of ownership ...
Condominium is an invented Latin word formed by adding the prefix con-'together' to the word dominium 'dominion, ownership'. Its meaning is, therefore, 'joint dominion' or 'co-ownership'. [3] Condominia (the Latin plural of condominium) originally referred to territories over which two or more sovereign powers shared joint sovereignty. This ...
A lower-rise apartment building on the left side of the Avenue of the Americas in Manhattan, juxtaposed next to a skyscraper apartment building. An apartment (American English, Canadian English), flat (British English, Indian English, South African English) [a], or unit (Australian English) is a self-contained housing unit (a type of residential real estate) that occupies part of a building ...
In a nutshell, consider the difference this way: If you like living … Continue reading → The post Condo vs. House: Which Should You Buy? appeared first on SmartAsset Blog.
Housing co-operatives and condominiums seem similar, but there are reasons for weighing a co op vs condos. You can rent them or use them as single-family homes. As a result, co-ops and condos are ...
Housing tenure is a financial arrangement and ownership structure under which someone has the right to live in a house or apartment. The most frequent forms are tenancy, in which rent is paid by the occupant to a landlord, and owner-occupancy, where the occupant owns their own home. Mixed forms of tenure are also possible.
A condo also offers the potential for rental income, which can be an excellent way to earn passive income. However, the condo market in Seattle can be volatile, with fluctuations in demand and ...
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