A condominium or ‘condo’ is a building structure divided into several units that are separately owned and which are surrounded by common areas that are jointly owned by all owners of the units. The common areas may include the compound, staircase, hallways and amenities such as a swimming pool, children’s play area and gym. The difference between an apartment building and condominium is entirely based on ownership. In a condominium, each unit owner holds legal title to their individual unit. This means they have the right to use and occupy their unit exclusively. However, the common elements are owned by all the unit owners as tenants in common.
- With various cultural hotspots, such as the Rizal Park, the National Museum Complex, Binondo, and Intramuros, there is no shortage of activities to do – and all of these destinations are only blocks away from an Ayala Land condo for sale in Manila.
- However, nothing was overlooked, a thorough examination of all materials was conducted, and, in the end, we walked away with much more industry knowledge and a clean, successful acquisition.
- Developers are also required to establish a condominium corporation and transfer control of the common areas to the unit owners within a specified period after the project’s completion.
- From online portals for fee payments to property management software, various tools can enhance efficiency and improve the resident experience.
- Come and experience with your loved ones this minimalist and clean studio-type unit in which you can cook your comfort food and enjoy watching movies on our smart TV.
- The first step in building a successful team is hiring competent condo and property managers yourself.
CanningHill Piers sit next to the Singapore River and is opposite Fort Canning Hill. Experience the epitome of craftsmanship and quality finishes at Cuscaden Reserve, a new