July 24, 2015
What is a Condominium?
A “condominium” refers to a form of legal ownership. Buyers purchase private dwellings in condominium buildings called “units”, and each unit is registered in the buyer’s name. The buyers of individual units share ownership of the common elements and assets of the building and community. Property owned under condominium tenure can be of any structure type.
Property Owned Under Condominium Tenure Can be of Any Structure Type
High-rise and stacked townhouse condominium units in Durham Region, Ontario.
Credit: William Baynes
Condominiums can be:
- low-rise or high-rise residential buildings;
- townhouses or rowhouses;
- duplexes or triplexes;
- single-detached houses; or
- vacant land upon which owners may build.
There are mixed-use condominiums that are partly residential and partly commercial buildings.
Owning a condominium differs from owning a conventional home in a number of ways. Condominium owners have specific rights and responsibilities and are subject to rules that vary from project to project. To inform consumers and help them decide whether condominium ownership is right for them, we publish a range of information, including the Condominium Buyer’s Guide. It includes information on:
See the full condominium article (PDF), updated July 2015, based on the 2013 Canadian Housing Observer condominium chapter