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Do you need to be a contractor to maintain a condominium complex of 32 units?
Wiki User
∙ 13y ago
Typically, the association's board is interested in working with a vendor who is licensed, bonded and insured. Experience as a contractor can equip the vendor with the knowledge and expertise to effectively maintain the complex.
The work of maintaining a condominium complex involves the preservation and maintenance of those assets. The board requires experience and business acumen -- as above, based on its legal requirement to protect the association's real estate assets from claims that could arise from an inexperienced worker's results.
Wiki User
∙ 13y ago
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What is a highrise condominium?
A high rise condominium is a tall building with condominium units.
What is the difference between a condominium unit and a condominium phase?
A condominium unit is a single unit in a condominium project, whether residential or commercial. A condominium phase is a development period, during which a developer builds, finishes and/or sells a set or collection of condominium units.
Who owns the huntington condominiums?
The ownership of the Huntington Condominiums would typically be divided among individual condo owners who have purchased and own individual units within the condominium complex. The overall management and maintenance of the property may be overseen by a condominium association that is comprised of the individual unit owners.
Define condominium hotel?
A condominium hotel is probably a mixed-use high-rise building, where the lower floors are a commercial hotel and the upper floors are condominium units.
Does the Declaration of ownership extend beyond the sale of the Condominium units?
Once you purchase a condominium unit, whether you are its first owner or subsequent owner, the condominium declarations will always be in force.
Does an elevator which exclusively serves two separately owned apartments on the third floor of a three story condominium building provide service to a single family dwelling?
Your question is complex. First, the elevator serves owned apartments in a condominium building. Then the elevator may be known as a limited common element. Since the elevator serves both units, the location of the 'single family dwelling' is unclear. (Both apartments are condominium units; neither is commonly described as a 'single family dwelling'.)
What is a site condominium?
According to the State of Michigan's Condominium Buyer's Guide: "The term "site condominium" is used to describe a condominium development with single-family detached housing instead of two or more housing units in one structure." Other states may have different definitions.
Is a condominium a home or a house?
A home is where people live. A house generally means a single family house surrounded by a lot. A condominium is a form of real estate ownership that can be applied to units within a high-rise building, a multi-family residential building, plots of land where people park mobile homes part of the year, boat slips where people store floating inventory, storage and shop business parks where people own individual units, and more. Condominium ownership implies that an owner owns a 'unit' individually, and owns common areas in the complex in common with all other owners. Owners pay assessments to fund operation of the complex. Generally, condominium associations are non-profit corporations.
What is a high rise condo?
It is a condominium community with units in a high-rise building.
What is the normal configuration of units in a condominium building?
There is no normal in terms of configuration of units in a condominium building. The developer built as many units as s/he believed that s/he could sell, given the zoning, height restrictions and parking requirements set out by the city where the building was constructed.
What is the difference between a townhouse and a condominium?
A condominium is a single housing unit that is usually attached to other units within a larger complex with common walls and the owners only own the inside of an individual unit, whereas a townhouse is a unit of consecutive series of similar residential units that may or may not share common walls, with two or more levels and may have front and back yards of their own. . A condominium is a unit that is part of a larger building, most share one or more walls with others. A townhouse is usually a row of units that are identical. In some regions townhouse also means two-story.
Is a condo considered commercial property?
Condominium ownership implies that all owners own a share of the real estate assets that make up the association's holdings together with the unit assigned to the owner.Commercial buildings may be condominiums. There may be commercial units within a condominium complex. As a business, however, the association is a corporation that may be for profit, not for profit or exist as an unincorporated association.AnswerThat depends on how the condominium was set up in the Master Deed. A residential condominium typically contains only residential condominium units. Some condominium projects offer mixed use when they include some units for commercial use such as restaurants, offices or shops at street level with residential units on upper levels. Others are strictly dedicated to commercial use such as office buildings or industrial complexes. The use is clearly set forth in the Master Deed. Generally, if you own a residential condo unit you cannot use it for commercial purposes.
