Condo Lifestyle for New Condo Purchasers


I often hear complaints from board members and property managers about the challenges they have dealing with condo residents who disregard the rules in their communities.

Often times the resident themselves, are unaware that there are rules and regulations and are unfamiliar with what the condo lifestyle is all about.

Many problems could be solved with a little knowledge ahead of time. Here are ten tips that may assist condo purchasers in understanding what it is like to live in a condominium community.

1. Condominiums are communities - living in a condominium means living with others. A sense of security, social gatherings, “community spirit” and collective decision making. But remember, people are people, different habits, different lifestyle and sometimes it may have an impact on your lifestyle.

2. Condominiums are Corporations - though they are slightly different then a business corporation, this community is run by a board of directors and you as an owner, act in your capacity similar to that of a shareholder. That includes the right to vote - but only in certain circumstances.

Please see full article below for more information.

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Published In: Business Organization Updates, Residential Real Estate Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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