Condominium

/ˌkɒndəˈmɪn.i.əm/

Meaning & Definition

noun

A building or complex of buildings containing a number of individually owned apartments or houses, often with shared amenities.

They decided to buy a condominium near the beach for their summer vacations.

A system of ownership in which individuals own specific units within a multi-unit structure, sharing ownership of common areas.

In a condominium, each owner has a deed for their unit but shares responsibility for the maintenance of the building.

A type of housing that offers a communal living experience with private ownership and shared facilities.

The new condominium complex has a gym, swimming pool, and barbecue area for residents.

Derived from Latin 'condominus' meaning 'joint owner'.

condo association

A governing body for a condominium which manages the common areas and enforces rules.

condo fees

Monthly payments made by condominium owners for maintenance of shared spaces.

luxury condominium

A high-end apartment complex with upscale amenities.

apartment

A self-contained housing unit that occupies part of a building.

co-op

A cooperative housing arrangement in which residents own shares in the cooperative rather than owning their individual unit.

Condo

I'm thinking about buying a condo downtown.

Pad

She just moved into her new pad in the city.