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The Canadian Condominium Institute is a non-profit association of condominium owners and corporations with chapters in each province and territory. [9] The Condo Owners Association COA Ontario is a non-profit association representing condominium owners with divisions across the province and districts within the various municipalities. [10]
A condop, a portmanteau of the words condominium and cooperative (or "co-op"), is a co-op inside a condo. [3] Stepping back, condominium owners actually hold title to a piece of real estate. Co-op owners are actually shareholder-tenants with shares in and a long-term lease from the co-op corporation. In all co-ops, a corporation owns the building.
A homeowner association (or homeowners' association [HOA], sometimes referred to as a property owners' association [POA], common interest development [CID], or homeowner community) is a private, legally-incorporated organization that governs a housing community, collects dues, and sets rules for its residents.
Condominium (a.k.a. commonhold and strata title) – Ownership of an apartment or house is assigned to an individual, but common areas (e.g. hallways, heating system, elevators, exterior areas) are controlled by the homeowners' association. Fees are charged to the condo owners for maintenance of the common areas. These are referred to as "condo ...
Owner-occupancy or home-ownership is a form of housing tenure in which a person, called the owner-occupier, owner-occupant, or home owner, owns the home in which they live. [1] The home can be a house , such as a single-family house , an apartment , condominium , or a housing cooperative .
Stevan Pardo, an attorney who represents condominium unit owners in high-profile cases like the Miami Beach Carillon dispute — where for years residents and the owner of the hotel and spa have ...
Owners of single-family homes need different insurance than condo owners, and if you live in a co-op you have a very specific set of insurance needs. Before you purchase an insurance policy ...
Legal expert details recourse for condo owners frustrated by unresponsive board that they say failed to secure building insurance, more.