This article has been provided by my fellow member of the Ontario Condo Group Laurie Gagnier, Sales Representative with Brussieres.Gagnier.Miller Real Estate Team of RE/MAX Metro-City Realty Ltd. Brokerage in Ottawa.
When people refer to a condominium, they are referring to a form of ownership as opposed to a place to make a home. They are often thought of as being high-rise residential buildings, but could be applied to townhouse complexes, individual houses and low-rise residential buildings. In British Columbia they are known as strata and in Quebec they are referred to syndicates of co-ownership as opposed to the condominiums in other regions of Ontario.It will be important for you to contact the member of the Ontario Condo Group that works in your area to learn about your local condominium styles.
Condos consist of two parts. The first part is a collection of private dwellings called “units”. Each unit is owned by and registered in the name of the purchaser of the unit.
The second part consists of the common elements of the building that may include lobbies, hallways, elevators, recreational facilities, walkways, gardens, etc.