Apartment buildings are often owned by a single entity and are primarily used for rental reasons. Condominiums which are leased out to tenants, on the other hand, sometimes are alluded to as apartments. The air space inside a condo is owned by the condo owner, who also owns a share of the communal property, which includes the floor, walls, walkways, stairwells, and outside spaces. Building refers to a complex made of individually owned units. Ownership is typically controlled by an HOA or community property management that performs property upkeep and some maintenance.
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- Some of the more famous places within Bangkok that would take your breath away are the Grand Palace, floating market, Wat Pho, Bangkok National Museum, Lumpini Park, Chinatown, etc.
- Hub of ASEAN – Thailand serves as the largest economic market that is growing rapidly and Bangkok serves as the gateway to Southeast Asia.
- Bangkok has several exclusive spots that serve specific purposes.
- “Considering all home types could make your search easier and open up options in neighborhoods or communities that may have been previously out of reach,” Pendleton says.
- Examples of expenses typically covered by condo fees include landscaping, snow removal, building insurance, security, and utilities for common areas.
Many condo associations employ security services to safeguard their community and protect their residents. This may be as simple as a gate and a doorman in the front lobby. It can also be more complex, such as camera surveillance or patrols by security personnel. Either way, the community benefits from extra eyes warding off would-be intruders and additional peace of mind as a result.
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The condo’s flooring, ceilings, walkways, stairwells, and outside areas are all owned by the condo’s common ownership. Condominium developments, the developer owns the land the units are on. When a tenant buys a condo, ownership is transferred to the buyer.
With every new member on the contract, the odds of rent being missed, or problems arising increases. The term condop is used in new york city real estate circles as a coop with condo rules. Technically, however, a condop is defined as a residential coop that has sold its ground floor as a commercial unit. In practice, however, the term is used as meaning a coop with condo rules. Under condo rules, condops allow subleases and foreign ownership.