0
It all depends.
Read your governing documents to determine the line where your individual ownership stops and the common area or limited common area starts. Often this is described as at the 'studs', 'the skin', 'the wallboard' and so forth.
Read further to confirm that assets within the walls are owned in common. These assets might include wiring, Plumbing, duct work, insulation and so forth.
An exception might be when a special electrical feed has been purchased by an individual owner to support an individual electrical need. In this case, the special electrical feed may be the sole property of the owner, who also owns responsibility to inspect it, maintain it and to protect the other owners from any liability caused by the failure of this special electrical feed.
In order for the special feed to have been installed initially, the owner would have presented a petition to the board that included all the information necessary for the board to decide to approve such an installation.
As an owner, you are entitled to review this petition and board vote.
Wiki User
∙ 14y ago
Add your answer:
Earn +20 pts
If your condo association is responsible for the exterior of your unit and you suffer interior water damage due to a leak from a foundation problem who is responsible to fix the interior damage?
Let your condo insurance company duke it out with the master policy insurance co.
Where should thermostat be placed in a condo?
Your association manager can help you understand where to locate your thermostat, given that not only does it sense the air temperature in the unit, but must have access to wiring that is within the wall, which may be owned by the association.
What is the use of Condo Associations?
Their role essentially shapes the quality of life within the condominium, as they make key decisions pertaining to the aesthetics, maintenance, and overall functioning of the community. At Daisy Property Management, I've seen just how much a dedicated and efficient condo association can enhance the living experience within a condominium community.
Is the walkway on the roof that residents living on the roof use to enter there condo a common area?
is the walkway on the roof (which the 4th floor residedence use to reach ther condo) common are to all residents
Can your friend paint your condo?
Work that is conducted on the interior of the condominium -- that you own, may require approval of the board. You can find these guidelines in your governing documents. Be aware that if your friend is not insured, bonded and licensed, any accident or damage done to common areas is your responsibility.
Are the walls common area for a condo?
Read your governing documents to determine the line -- usually on or within the walls -- that define where the common area abuts individual ownership. The line may be studs, back or front of wall board, paint and so forth. There is no standard.
How long is the typical process to finance a condo?
The typical length of process to finance a condo when buying in Florida is about one month and fifteen days but the application to obtain a condo should be made within three to five days. Actually, it really depends on the circumstances and in which state one is in.
What is a junior condo?
Usually the term describes a smaller than average condominium unit within a community.
Measure square footage of condo include percentage of common areas?
To measure the square footage of a condo, you would need to include both the area of the unit itself and the percentage of common areas allocated to it. The common areas may include hallways, lobby, gym, pool, and other shared spaces. You can calculate the total by multiplying the square footage of the condo unit by the percentage of common areas specified in the condo's governing documents.
Have Florida legislators passed a law to force condo owners to pay their condo fees?
no but trying to If a condo owner falls more than 90 days in arrears of association, the right to use common areas can be suspended by the association until such dues are paid.
Protect Your Investment with Condo Insurance?
If you own a condominium, you might be surprised to learn that you need to purchase additional condo insurance. After all, don't the condominium associations cover those costs? Many people mistakenly believe that they are completely covered from any damage or theft thanks to their membership to a condo association. In fact, this kind of coverage typically only qualifies the exterior of the building, or any common areas. Should anything happen to the interior of the condo, the owner or tenant would be completely liable and have innumerable expenses. A common cost incurred by condo owners is any kind of flood or water damage. If a faulty pipe or even a leaky faucet while you're away causes excess water in the condo, you may be dealing with anything from repainting the wall to completely redoing the floors. Rather than cover these unexpected expenses out of pocket, those with condo insurance will have these costs covered, and even have help finding contractors to do the work. Having condo insurance can really offer peace of mind for those who are away from their condos for more than a day at a time. If your condo is where you store any valuable or significant items, like televisions, computers, or jewelry, it may be especially important for you to have condo insurance. This can protect you in the event of a break-in, and help you to recoup your monetary losses. Unfortunately, condominium break-ins are common due to the fact that residents are often traveling or away from their second homes. If a burglary occurs in your condo, would you be prepared to cover the expenses? Small payments of condo insurance can help you not to worry about leaving valuables in your condo. If someone were to slip and fall in a condo, the owner would be liable for any injury and medical costs associated with that. In today's legal climate, where high punitive damages are common, that might mean the condo owner would need to pay huge costs. Liability insurance in your condo is important for having guests, visitors, or even handymen doing work in your home. Protect yourself against court fees and amy judgments by investing in condo insurance.
What are average condo insurance rates in Illinois?
Average condo insurance rates in Illinois are 4.69%. This varies greatly depending on what part of the city you live in, but 4.69% is the common mean and average.
