Condominium

AAA

DEFINITION of 'Condominium'

A large property complex that is divided into individual units and sold. Ownership usually includes a non-exclusive interest in certain "common properties" controlled by the condominium management.

INVESTOPEDIA EXPLAINS 'Condominium'

Condominium management is usually made up of a board of unit owners who see to the day to day operation of the complex (lawn maintenance, snow removal, etc).

RELATED TERMS
  1. Condominium Fee

    A maintenance fee charged by a condominium complex to cover the ...
  2. Cooperative Insurance - Co-Op Insurance

    An insurance for owners of co-op apartments that covers losses ...
  3. Bungalow

    A one-story house, cottage or cabin. Bungalows are generally ...
  4. Condotel

    A condominium project that is operated as a hotel with a registration ...
  5. Investment Real Estate

    Real estate that generates income or is otherwise intended for ...
  6. Landominium

    A type of residential property in which the owner owns both the ...
Related Articles
  1. Retirement

    Does Condo Life Suit You?

    Association fees and disputes with neighbors could spoil your move if you're unprepared.
  2. Home & Auto

    Tips For The Prospective Landlord

    Investing in rental property can generate serious income, but there's more to it than collecting rent.
  3. Home & Auto

    9 Things You Need To Know About Homeowners' Associations

    Restrictive rules and high fees are just some of the things to watch out for before joining an HOA.
  4. Home & Auto

    Top Tips For First-Time Home Buyers

    Follow this step-by-step guide to make your homeownership dreams a reality.
  5. Retirement

    In Retirement, Snowbirds Leave Cold Weather Behind

    Rather than shivering away their golden years, retirees can fly south to winter in sunny locales.
  6. Home & Auto

    An Introduction To Buying A Condominium

    This real estate investment provides unique advantages - and challenges.
  7. Home & Auto

    Housing Cooperatives: A Unique Type Of Home Ownership

    Co-ops are often less expensive than apartments and provide some unique benefits and drawbacks for owners.
  8. Options & Futures

    Timeshares: Dream Vacation Or Money Pit?

    This popular real estate product has its advantages, but don't expect to make a profit.
  9. Options & Futures

    20 Investments You Should Know

    To take advantage of all your investing options, you need to know what your choices are. Here we tell you about the diverse features and advantages of 20 different financial instruments.
  10. Home & Auto

    4 Overlooked Homeownership Costs

    Mortgage payments aren't the only expense. Find what else you'll be on the hook for.

You May Also Like

Hot Definitions
  1. Fixed Cost

    A cost that does not change with an increase or decrease in the amount of goods or services produced. Fixed costs are expenses ...
  2. Subsidy

    A benefit given by the government to groups or individuals usually in the form of a cash payment or tax reduction. The subsidy ...
  3. Sunk Cost

    A cost that has already been incurred and thus cannot be recovered. A sunk cost differs from other, future costs that a business ...
  4. Technical Skills

    1. The knowledge and abilities needed to accomplish mathematical, engineering, scientific or computer-related duties, as ...
  5. Prepaid Expense

    A type of asset that arises on a balance sheet as a result of business making payments for goods and services to be received ...
  6. Gordon Growth Model

    A model for determining the intrinsic value of a stock, based on a future series of dividends that grow at a constant rate. ...
Trading Center