Condominium
Definition 1 of 2
Pro Tip 1/3
Ownership Implication
Indicates private ownership of part of a property, with shared common areas. My aunt owns a condominium with a shared swimming pool and garden.
Pro Tip 2/3
Not Always Apartments
'Condominium' can refer to individual houses in a shared community, not just apartments. They live in a detached condominium at the new co-housing project.
Pro Tip 3/3
Shared Responsibility
Owners typically pay fees for maintaining communal areas like hallways or fitness centers. Residents of the condominium contribute to the upkeep of the central park.