It is simple to feel a bit dazed and confused after a day of viewing potential new homes. After multiple viewings, they will all start to look the same. However have you ever wondered what the difference is between an condo and a condominium? They look precisely the same! In case you have, you're right. They're aesthetically no different from one another. The distinction between an apartment and a apartment is only legal.

Condos and apartments are essentially both apartments which are part of a bigger building. The place a condo differs from an house is when it comes to ownership. Condos are flats sold individually to totally different owners. The identical building in its entirety could possibly be owned by one individual and the flats inside rented (but not owned!) to separate people.

A condominium is typically defined as a group of houses which are individually owned on one piece of land. When you own a condo, you do not own the land it is constructed on however instead you purchase the air containing the borders of your condo. You will discover out exactly what these borders are within the declaration document.

Whenever you own a apartment you're shopping for a bit of real estate with access to communal areas resembling hallways, elevators and gardens. You'll find out exactly what these frequent areas are in a doc called the master deed. These common areas are managed by the home owners affiliation that elects a board to deal with the day by day running of the condo. This board will represent the building as a complete and can act on the final will of the owners. The board will resolve upon the rules and rules of the condominium including pet ownership, upkeep cash for the upkeep of communal areas and external decorating restrictions. If you are unsure what the foundations and rules of you condominium are they can normally be found by a search engine should you type on the name of your apartment association.

Indifferent condos are additionally available whereby individual houses are separately owned but the grounds together with gardens, courtyards etc aren't looked after by the homeowners. In this situation home owners have a larger say within the outside looks of housing. Restrictions are put in place as a way to keep streets looking uniform. Detached condos, however, are very rare in Bangkok because of its basis as a high-rise city and also because of a lack of development space.

The concept of condo ownership can even apply to different building types together with offices, shops, and hotels although this can also be very uncommon with companies preferring to make impartial stylistic selections and have a higher flexibility in the daily running of their business space.

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