What is the apartment owner called?

landlord
A landlord is the owner of a house, apartment, condominium, land, or real estate which is rented or leased to an individual or business, who is called a tenant (also a lessee or renter). When a juristic person is in this position, the term landlord is used. Other terms include lessor and owner.

Who is the owner of a condo building?

Basically, it’s like an apartment building where each apartment is owned by an individual, rather than the whole complex being owned by a landlord or a property management firm. If someone is renting a condo unit, they’re renting directly from that condo’s owner.

Who is responsible for the upkeep of a condominium?

Many condo owners assume that their fees will take care of everything, but as an owner in the condominium, you are ultimately responsible for its upkeep, no matter what happens.

Are there any misconceptions about buying a condominium?

A condominium can provide a less-expensive entry into the housing market, and is also a low-maintenance downsizing option for seniors. However, misconceptions about condominium ownership abound, which can often keep potential buyers from considering them as an option. They can also leave condominium owners frustrated by condo living.

What do you need to know about living in a condominium?

Observe the comings and goings of condomin – ium dwellers to assure safety. You might want to consider hiring an expert to review available engineering reports or retain a professional home inspector. Talk with residents in the condominium to find out about their experiences with the developer and/or management com – pany.

What kind of ownership does a condo have?

Ownership extends inward from your interior walls, floors and ceilings. In addition unit owners are partners with all the other owners in the association regarding the exterior structure (the foundation, exterior walls and roof) as well as any common areas and amenities (for example, swimming pools, clubhouses, tennis courts, play areas, etc.)

What can unit owners do under the Condominium Act?

You asked what actions unit owners can take under the Condominium Act to contest decisions and actions taken by the association of unit owners’board of directors. You also asked if the act authorizes a unit owner to repair significant damage to his unit (but not the common elements) without the board’s approval.

Do you have to maintain common area of condo?

However, an individual unit owner is not required to maintain or repair items located in common areas or the items serving multiple units. Condo Board: On the other hand, the condo board usually maintains the common premises.

Do you have right to use common elements in condo?

Your Right to Use Common Elements Depends on Your Ownership. Anything that you don’t own outright is probably not going to be yours to use or change without specific rights having been granted to you under the association documents. So, it’s important to know what is and is not included a part of the unit.