When we speak of condominiums condominiums are individual housing units that have common areas that are owned in joint tenancy.
Is this true or false ?
Take your time. The solution is below the wildlife photo.
A. Very false
The common areas in a condominium development are owned by the tenants as tenants in common and shared equally.
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Have you ever thought about buying a Multifamily( Apartment) and convert it to Condos?
What do think if I did just that? How will the market react?
That's a fine idea, Deepa. The liability for maintenance takes a different level because of the shift in the responsibility from property management, or a landlord, to the interest of the owner in severalty and the collective interests of any condo associations that are managed by tenants in common. Many thanks for your comment. Hope you have a great week ahead.