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.