What is a condominium?

Condominiums, often called condos, are private residential units within a larger building or complex. Each unit is individually owned, while common areas such as hallways, gyms, and pools are collectively owned and maintained by an association. Condo owners pay monthly fees to cover the upkeep of shared spaces and amenities. Condominiums can offer a low-maintenance lifestyle and access to community facilities, making them popular in urban areas.