Smart Ownership
What’s a Condo?
A condominium or “Condo” is an ownership concept, often in an apartment building. The owner receives a deed for the apartment and pays real estate taxes on their unit. Condo owners share ownership of common areas such as hallways, property grounds, elevators, and community amenities like pools and fitness centers.
Condo Maintenance Fees
Condo maintenance fees cover building upkeep, utilities, insurance, and shared services, and may increase over time.
- Roof & Exterior Maintenance
- Pool Care
- Landscaping
- Water Supply
- Trash Collection
- Building Insurance
- Fee Increases Awareness
Board of Directors
The condo association board manages rules, budgets, maintenance, and community operations on behalf of owners.
- Elections – Owners elect the board members
- President – Acts as CEO and spokesperson
- Rules & Regulations – Drafting and enforcement of policies
- Budget Planning – Setting financial plans and expenses
- Maintenance Scheduling – Planning repairs and upkeep
- Insurance Management – Maintaining building coverage
- Community Meetings – Organizing owner discussions
- Assessments – Levying fees when needed
