What Do Condos Include

A condominium, called “condo” for short, is a privately-owned individual unit within a community of other units. Condo owners jointly own shared common areas, such as pools, garages, elevators and outside hallways and gyms, to name a few.

Do you own the walls in a condo?

You don’t own anything outside of your condo unit, however, not even the exterior walls. Common areas of the condo complex are owned by all of the condo owners collectively, and you share them.

Do you own a condo forever?

While a landlord can clear out a rental building at any time, assuming there are no complicating rent control regulations, a condo is yours forever.