condominium ownership

Condominium ownership means you own your individual unit—such as an apartment—while sharing ownership of common areas like hallways, gardens, or amenities with other residents. You typically pay a monthly fee for maintenance and shared services. The building is governed by a homeowners' association (HOA) that sets rules, manages repairs, and maintains shared spaces. This setup allows you to enjoy private living spaces with shared responsibility for communal areas, balancing individual ownership with collective management.