Real Estate Term of the Day: Condominium CONDOMINIUM – a system of ownership of individual units in a multi-unit structure, combined with join ownership of commonly used property (sidewalks, hallways, stairs, and other COMMON AREAS) (Barron’s Dictionary of Real Estate Terms) A condominium complex can offer a more affordable housing opportunity in highly dense areas … More Real Estate Term of the Day: Condominium
Real Estate Term of the Day: Conditions, Covenants & Restrictions CONDITIONS, COVENANTS & RESTRICTIONS (aka: CCRs) – often found in a condominium or a subdivision, these are rules, written into the deeds or bylaws, that define how property may be used. They prevent property owners from making changes to their individual properties that could result … More Real Estate Term of the Day: Conditions, Covenants & Restrictions
Real Estate Term of the Day: Community Association COMMUNITY ASSOCIATION – general name for any organization of property owners to oversee some common interest. In a condominium or planned unit development (aka: PUD), the association has the responsibility of managing the common elements (see COMMON AREAS) in the project. A homeowner’s association may be established … More Real Estate Term of the Day: Community Association
Real Estate Term of the Day: Common Areas COMMON AREAS – areas of a property [or community] that are used by all owners (Barron’s Dictionary of Real Estate Terms) Below are a few examples of common areas that can be found in neighborhoods around Metro Denver: community pool clubhouse fitness center tennis courts park within … More Real Estate Term of the Day: Common Areas
LESLIE MONACO REAL ESTATE 