Meaning & Definition of word "Condominium"
Condominium
/ˌkɒndəˈmɪn.i.əm/
noun:
- 1. A building or complex of buildings containing a number of individually owned apartments or houses, often with shared amenities.
- Example: They decided to buy a condominium near the beach for their summer vacations.
- 2. A system of ownership in which individuals own specific units within a multi-unit structure, sharing ownership of common areas.
- Example: In a condominium, each owner has a deed for their unit but shares responsibility for the maintenance of the building.
- 3. A type of housing that offers a communal living experience with private ownership and shared facilities.
- Example: The new condominium complex has a gym, swimming pool, and barbecue area for residents.
Etymology
●Derived from Latin 'condominus' meaning 'joint owner'.
Common Phrases and Expressions
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.
Related Words
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.
Slang Meanings of condominium
Meaning: Condo
● Example Sentence: I'm thinking about buying a condo downtown.
Meaning: Pad
● Example Sentence: She just moved into her new pad in the city.