What is a Condo?

A condo, also referred to as a "condominium" is a type of property located among other properties in the same building that are divided into several units that are each separately owned residing at a single civic address.

You will recognize condos when looking at large high-rise buildings with multiple floors, each floor hosting a number of condo units owned by separate individuals.

Condos in large buildings are a popular choice for those who are looking for a property which requires little to no on-going maintenance, with all maintenance being managed by the condo board and paid for with monthly condo fees. Any major repairs required are part of these fees, a portion of which is held in a contingency fund.