The common areas of building, such as stairs, boundary and exterior walls, a gym and a rooftop garden, shared ownership. Each unit owner has an interest in the space. To manage the maintenance and repair of the common areas together, every condo development has a condominium association, also known as an association of unit owners.
Association was chosen by the owner of the condo and make decisions for the benefit of a communal society. If you want to buy UWS luxury condominium then you can visit this link https://thevandewater.com.
Condo fees include:
* Arras, mortgages and taxes.
* Condo fees, also known as maintenance costs. Condo fees are paid by all citizens to help with building maintenance, salary groundskeepers, janitors or tasks, and provide facilities like a luxurious swimming pool, a gym or a roof garden. Condo fees are paid monthly and are subject to change.
* Special rate of assessment. This number can be requested when an unexpected repair or planned modification exceeds the cost of fees collected condo.
Condominium governed by a set of rules called the agreement, conditions, and restrictions (CC & Rs). Rules vary from one another condo development. They can impose restrictions on pet ownership, remodeling projects, noise levels, and rent. CC & R implemented by the condominium association. It is a good idea to read the CC & R to make sure you are comfortable with them before buying a condo.