Condominium is a unit in a multiunit building. The owner of a condominium unit owns the unit itself and has the right, along with other owners, to use the common areas but does not own the common elements such as the exterior walls, floors and ceilings or the structural systems outside of the unit; these are owned by the condominium association. There are usually condominium association fees for building maintenance, property upkeep, taxes and insurance on the common areas and reserves for improvements.
Barry Goldsmith
| APA | Barry Goldsmith. (2010). condominium. Retrieved September 20, 2026, from http://smartdefine.org/condominium/definitions/1150482 |
| Chicago | Barry Goldsmith. 2010. "condominium" http://smartdefine.org/condominium/definitions/1150482 (accessed September 20, 2026). |
| Harvard | Barry Goldsmith 2010, condominium, Smart Define, viewed 20 September, 2026, <http://smartdefine.org/condominium/definitions/1150482>. |
| MLA | Barry Goldsmith. "condominium" 21 October 2010. Web. 20 September 2026. <http://smartdefine.org/condominium/definitions/1150482> |