A condominium, normally referred to as a “condo” is a form of home ownership. Individual homes or units in a larger complex or community are sold to individual buyers; the buyer either resides in the condo or rents it for income purposes. Any multi-unit building can be considered as a condominium, they are either designed and built as such or they “go condo” where the existing tenants of an apartment complex example are given the option to buy or vacate their units. Brickell Key condos for rent are purpose built units.
The people who purchase a condominium own everything from the inside of the walls of the unit, inward. The walls as well as all the common areas are owned by the condominium association. The common areas include the elevators, the pool and club houses and other facilities which have been designed to be shared by all the residents. It becomes the obligation of the condo owner to pay association dues which are used to maintain the common areas and to provide a fund for unforeseen future problems. Most tenants who rent these units from the owners are obliged to pay these fees as part of their rent.
Many people purchase a condo unit as an investment property. Condo living may not suit some people as there is a definite lack of privacy in the common areas, however, young couples in particular like this and tend to migrate towards condo living, whether they purchase the unit or rent it from the owner.
The people who genuinely benefit from condo living are those that have no interest in home maintenance, they do not want to worry about the lawn, the exterior painting or any other external issue that homeowners deal with. Those who purchase condos often do so because the initial cost of ownership is considerably less than purchasing a landed property in the same area. Those Brickell Key condos for rent are ideal for those who wish to purchase property and build equity, even though they have no intention of living in the unit.
For a tenant, condo living is similar to living in an apartment but as the condo is invariably built to a higher standard, the living conditions and the amenities are often superior.
Brickell key condos for rent are available through Buy.Sell.Rent Realty. Contact Hugo Dorta today to discuss the units available for rent or sale.
