1     Condominiums are communities living in a condominium means living  with  others. A sense of security,” social gatherings.” Community Spirit” and collective decision- making. But remember, people are people, different habits, different lifestyle  and somethimes it may have an  impact on your lifestyle.

2        Condominiums are corporations though they are slightly different then a business corporation, this community is run by a board of directors and you as an owner in your capacity similar to that of a shareholder. That includes the right to vote ,but only in certain circumstances.

3        Condominiums have rules, they are there for a reason. They must be inforced  and there are penalties for not complying. Remember the rules on pets, alterations, noise and parking.

4        Condominiums require maintenance and repairs ,buildings require upkeep and over time there is wear and tear. The result is that those costs are shared by the entire community.  If the budget has not included these cost and if those costs have not been anticipated and planned for the owner may be expected to  pay those costs in a special assessment. Proper management can off set these expenses ,by being prepared

5        Expenses fluctuate and services may change .Gas and Electric increases, if owners decide to have additional services to the building, cost could increase.

 6        Corporations are managed most of the time by a Property Management Company.A Property Manager is especially trained and skilled at running a condominium corporation.

 7        Neighbors come and go. Some are good and some are difficult. It could mean the difference between staying or selling your condominium and moving on, the same holds true for homeowners. So to is best to work with Property management and resolve and issues that arise.

 8        Condominiums plan for future, money is collected monthly for maintenance and a portion is used to fund a reserve fund account used for future repairs, this avoids those special assessments for major repairs down the road

9        Parking and lockers have separate rules and restrictions. Learn what they are as this could prevent you from selling or leasing to anyone outside of the building

10   Condominium Corporations have Insurance that covers some situations and not others. Owners need to obtain their owner insurance, for personal liability and personal belongings If a bathtub overflows for example and causes damage to another suite, you may want to make sure you have the  appropriate insurance coverage.