In addition to owning a separate interest in their individual units, owners of this type of housing also own an undivided interest in common areas Condominiums.
A condominium, or condo for short, is a type of building composed of a number of individually owned units that are encircled by jointly owned common areas.
Residential condominiums are frequently built as apartment complexes, but there are also "detached condominiums," which resemble single-family homes and are co-owned and maintained by a community association.
These yards (gardens), corridors, building exteriors, streets, and any recreational facilities (like a pool or pools, bowling alley, tennis courts, golf course, etc.) are all shared by the residents of a detached condominium.
Common areas like hallways, walkways, laundry rooms, etc., as well as shared services and facilities like the HVAC system, elevators, and other things are all owned jointly by the owners of the individual apartments.
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