TRIOCONDOMINIUMS.COM

A condominium, or condo, is the form of housing tenure and other real property where a specified part of a piece of real estate (usually of an apartment house) is individually owned while use of and access to common facilities in the piece such as hallways, heating system, elevators, exterior areas is executed under legal rights associated with the individual ownership and controlled by the association of owners that jointly represent ownership of the whole piece. Colloquially, the term is often used to refer to the unit itself in place of the word “apartment”. A condominium may be simply defined as an “apartment” that the resident “owns” as opposed to rents.

Condominium is the legal term used in the United States and in most provinces of Canada. In Australia and the Canadian province of British Columbia it is referred to as strata title. In Quebec the term “divided co-property” (French: co-propriété divisée) is used, although the colloquial name remains ‘condominium’. In England and Wales the equivalent is commonhold, a form of ownership introduced in 2004 and still uncommon in most places. In France the equivalent is called Copropriété (co-ownership), usually managed by the Syndic.

The difference between a condominium and an apartment is purely legal: there is no way to know a condo from an apartment simply by looking at or visiting the building. What defines a condominium is the form of ownership. The same building developed as a condominium (and sold as individual units to different owners) could actually be built someplace else as an apartment building (the developers would retain ownership and rent individual units to different tenants).

Technically, a condominium is a collection of individual home units along with the land upon which they sit. Individual home ownership within a condominium is construed as ownership of only the air space confining the boundaries of the home (Anglo-Saxon law systems; different elsewhere). The boundaries of that space are specified by a legal document known as a Declaration, filed of record with the local governing authority. Typically these boundaries will include the drywall surrounding a room, allowing the homeowner to make some interior modifications without impacting the common area. Anything outside this boundary is held in an undivided ownership interest by a corporation established at the time of the condominium’s creation. The corporation holds this property in trust on behalf of the homeowners as a group–-it may not have ownership itself.

Typically, a condominium consists of multi-unit dwellings (i.e., an apartment or a development) where each unit is individually owned and the common areas, such as hallways and recreational facilities, are jointly owned (usually as “tenants in common”) by all the unit owners in the building. It is also possible for condominiums to consist of single family dwellings: so-called “detached condominiums” where homeowners do not maintain the exteriors of the dwellings, yards, etc. or “site condominiums” where the owner has more control and possible ownership (as in a “whole lot” or “lot line” condominium) over the exterior appearance. These structures are preferred by some planned neighborhoods and gated communities.

A homeowners association (HOA), consisting of all the members, manages the condominium through a board of directors elected by the membership. The same concept exists under different names depending on the jurisdiction, such as “unit title”, “sectional title”, “commonhold,” “strata council,” or “tenant-owner’s association”, “body corporate”, “Owners Corporation”, “condominium corporation” or “condominium association.” Another variation of this concept is the “time share” although not all time shares are condominiums, and not all time shares involve actual ownership of (i.e., deeded title to) real property. Condominiums may be found in both civil law and common law legal systems as it is purely a creation of statute.

The Cosmopolitan, a condominium in Singapore

The description of the condominium units and the common areas and any restrictions on their use is established in a document commonly called a “Master Deed” (also known as the “Enabling Declaration”, the “Declaration of Conditions”, or the “Condiminium Document”) which authorizes a board of directors to administer the condominium affairs and to assess the owners for adequate maintenance. Rules of governance are usually covered under a separate set of Bylaws which generally govern the internal affairs of the condominium. Condominium bylaws usually establish the responsibilities of the owners’ association; the voting procedures to be used at association meetings; the qualifications, powers, and duties of the board of directors; the powers and duties of the officers; and the obligations of the owners with regard to assessments, maintenance, and use of the units and common areas. Finally, a set of Rules and Regulations providing specific details of restrictions and conduct are established by the Board and are more readily amendable than the Declaration or Bylaws. Typical rules include mandatory maintenance fees (perhaps collected monthly), pet restrictions, and color/design choices visible from the exterior of the units. Generally, these sets of rules and regulations are made available to residents and or as a matter of public record via a condo or homeowners association website, or through public files depending on the state and its applicable laws. Condominiums are usually owned in fee simple title, but can be owned in ways that other real estate can be owned, such as title held in trust. In some jurisdictions, such as Ontario, Canada or Hawaii USA, there are “leasehold condominiums” where the development is built on leased land.

In general, condominium unit owners can rent their home to tenants, similar to renting out other real estate, although leasing rights may be subject to conditions or restrictions set forth in the declaration (such as a rental cap for the total number of units in a community that can be leased at one time) or otherwise as permitted by local law.

In the United States, condominiums are regulated by “condominium associations”. The associations are responsible for common areas within the building and in almost all circumstances the associations charge monthly dues above and beyond the mortgage.

Non-residential condominiums

Condominium ownership is also used, albeit less frequently, for non-residential land uses: offices, hotel rooms, retail shops, group housing facilities (retirement homes or dormitories), and storage. The legal structure is the same, and many of the benefits are similar; for instance, a nonprofit corporation may face a lower tax liability in an office condominium than in an office rented from a taxable, for-profit company. However, the frequent turnover of commercial land uses in particular can make the inflexibility of condominium arrangements problematic.

By country

United States

Aqua waterfront condos in Long Beach, California, United States

The interior of a loft condominium

A historic mansion converted into luxury condominiums in Chicago, United States

The first condominium law passed in the United States was in the Commonwealth of Puerto Rico in 1958.^[1] English Common law tradition holds that real property ownership must involve land, whereas the French civil law tradition recognized condominium ownership as early as the 1804 Napoleonic Code; thus, it is notable that condominiums evolved in the United States via a Caribbean government with a hybrid common-civil legal system. In 1960, the first condominium in the Continental United States was built in Salt Lake City, Utah.^{[citation needed]} Initially designed as a housing cooperative (Co-op), the Utah Condominium Act of 1960 made it possible for “Graystone Manor” (2730 S 1200 East) to be built as a condominium. The legal counsel for the project, Keith B. Romney is also credited with authoring the Utah Condominium act of 1960. Romney also played an advisory role in the creation of condominium legislation with every other legislature in the U.S. Business Week hailed Romney as the “Father of Condominiums”.^{[citation needed]} He soon after formed a partnership with Don W. Pihl called “Keith Romney Associates”, which was widely recognized throughout the 1970s as America’s preeminent condominium consulting firm.^[2]

Although often mistakenly credited with coining the term “condominium”, Romney has always been quick to point out that it harks back to Roman times, and that he merely borrowed it.^{[citation needed]}

Nowadays, the leadership of the industry is dominated by Community Associations Institute or CAI.^{[citation needed]}

Section 234 of the 1961 National Housing Act allowed the Federal Housing Administration to insure mortgages on condominiums, leading to a vast increase in the funds available for condominiums, and to condominium laws in every state by 1969. Many Americans’ first widespread awareness of condominium life came not from its largest cities but from south Florida, where developers had imported the condominium concept from Puerto Rico and used it to sell thousands of inexpensive homes to retirees arriving flush with cash from the urban Northern U.S.^{[citation needed]}

The primary attraction to this type of ownership is the ability to obtain affordable housing in a highly desirable area that typically is beyond economic reach. Additionally, such properties benefit from having restrictions that maintain and enhance value, providing control over blight that plagues some neighborhoods. Major American cities, including Miami, San Francisco, Chicago, New York City, Los Angeles, and Washington D.C., have abundant condo development.

In recent years, the residential condominium industry has been booming in all of the major metropolitan areas such as Miami, San Francisco, Seattle, Boston, and New York. It is now in a slowdown phase.^{[citation needed]} According to Richard Swerdlow, CEO of Condo.com, “You’re not going to see this giant overbuild again. It’s hard to imagine that you’d see in the next decade what we just saw. Real estate brokers and the developers were in almost a ticket-collecting mode. They were processing orders because there was so much business to go around. Now that sort of investor phenomenon has gone away.” He added, “That phenomenon has stopped.”

An alternative form of ownership, popular in the United States but found also in other common law jurisdictions, is the “cooperative” corporation, also known as “company share” or “co-op”, in which the building has an associated legal company and ownership of shares gives the right to a lease for residence of a unit. Another form is leasehold or ground rent in which a single landlord retains ownership of the land on which the building is constructed in which the lease renews in perpetuity or over a very long term such as in a civil law emphyteutic lease. Another form of civil law joint property ownership is undivided co-ownership where the owners own a percentage of the entire property but have exclusive possession of a specific part of the property and joint possession of other parts of the property; distinguished from joint tenancy with right of survivorship or a tenancy in common of common law.

Ontario, Canada

In Ontario, condominiums are governed by the Condominium Act, 1998^[3] with each development establishing a corporation to deal with day-to-day functions (maintenance, repairs, etc.). A board of directors is elected by the owners of units (or, in the case of a common elements condominium corporation, the owners of the common interest in the common elements) in the development on at least a yearly basis. A general meeting is held annually to deal with board elections and the appointment of an auditor (or waiving of audit). Other matters can also be dealt with at the Annual General Meeting, but special meetings of the owners can be called by the board and, in some cases, by the owners themselves, at any time.

In recent years the condo industry has been booming in Canada, with dozens of new condo towers being erected each year. Toronto is the centre of this boom, with 17,000 new units being sold in 2005, more than double second place Miami’s 7,500 units.[1] Outside of Toronto, the most common forms of condominium have been townhomes rather than highrises, although that trend may be altered as limitations are placed on “Greenfields” (see Greenfield land) developments in those areas (in turn, forcing developers to expand upward rather than outward and to consider more condominium conversions instead of new housing). Particular growth areas are in Kitchener/Waterloo, Barrie, and London. In fact, after Toronto, the Golden Horseshoe Chapter of the Canadian Condominium Institute is one of that organization’s most thriving chapters.[2]

The Ontario Condominium Act, 1998 provides an effectively wide range of development options, including Standard, Phased, Vacant Land, Common Element and Leasehold condominiums. Certain existing condominiums can amalgamate, and existing properties can be converted to condominium (provided municipal requirements for the same are met). Accordingly, the expanded and expanding use of the condominium concept is permitting developers and municipalities to consider newer and more interesting forms of development to meet social needs.^{[citation needed]}

On this issue, Ontario condominium lawyer Michael Clifton writes, “Condominium development has steadily increased in Ontario for several years. While condominiums typically represent attractive lifestyle and home-ownership alternatives for buyers, they also, importantly, introduce a new approach to community planning for home builders and municipal approval authorities in Ontario. …[There are] opportunities for developers to be both creative and profitable in building, and municipalities more flexible and imaginative in planning and approving, developments that will become sustainable communities.” (In, A Comment about Condominiums, Community Planning and Sustainability, Forum Magazine, Dec 06/Jan 07, p. 28.)

Denmark

Condominiums (Danish ejerlejlighed, literally “owner-apartment”) comprise some 5 % of Danish homes.^[4] They are traded and mortgaged on the same markets as free-standing houses, and are treated legally much like other forms of real estate. Each owner-tenant directly owns his own apartment; the rest of the building and the ground on which it stands is owned jointly by the apartment owners who execute their joint ownership through an owner’s association. The expenses of maintaining the joint property is shared pro rata among the owners.

Another 5 % of Danish homes are in housing cooperatives (Danish andelsbolig), which occupy a legal position intermediate between condominiums and housing associations. The entire property is legally owned by a non-profit corporation in which the tenants own shares; each share carries the right and duty to lease an apartment from the cooperative. Shares can be bought and sold, but often the cooperative’s rules strictly limit the price for which they may change hand. (In contrast, condominiums are traded on a free market). Because the official share prices are often lower than the market value and sellers often retain freedom to select whom to sell to, under-the-table payments are common.^[4]

Current public policy favors condominiums over housing cooperatives, and recent legislation have aimed ad making the latter more condominium-like. For example, since 2005, cooperative shares may be used to secure bank loans. (However, Danish mortgage banks still may not mortgage individual housing cooperative apartments).

India

Condominiums are more commonly known as “flats” in India. This type of housing is very common in larger cities like Delhi, Mumbai (Bombay), Kolkata (Calcutta), Bengaluru (Bangalore), Hyderabad and Chennai (Madras) but are not commonly found in rural areas. In India, they are registered as “co-operative housing society” rather than condominiums in that the owners actually have a share of the co-op and not the actual real estate itself. Owners can sell the “share” in the open market, but they must receive approval from the co-op to complete the transaction.

Singapore

In Singapore, “Condo” or “Condominium” are terms used for housing buildings with some special luxury features like security guards, swimming pools or tennis courts. Most Housings without such features are built by the governmental Housing Development Board (“HDB”), and such HDB units can be possessed for rent or individually bought from the government. Condominiums and HDB flats make up the overwhelming majority of available residential housing in the country.

Australia

In Australia, condominiums are known as “community title schemes”.

Cheap property doesn’t always make a profit for an investor. The question we should actually be asking is: ‘How do I find properties that are being sold at substantially less than market value?’.

The first step is to find an area where future demand will be greater than the supply. How? Find out where there is to be new rail and road links. A large company moving to an area will bring jobs. People will need to move to the area to fill the vacancies and the demand for suitable housing will grow. Many large cities now have plans for area regeneration. Buying in the areas will cost a lot more when regeneration has been completed.

The next step is to decide on what type of cheap property to buy. If the demographics show a lot of elderly people living in your chosen area, then perhaps single storey accommodation will be in demand. If there are a lot of young people then perhaps the demand will be for apartments.

Once you have decided on both the area and type of property, you need to compile a list of what’s available.

When you have a good idea of what is available, you will need to see what the average property is costing in your chosen area.  They will also have a lot of other information such as the locality of schools and shops.

Finally you will need to visit the area yourself. Make a shortlist of properties to go and view. Take a pencil and paper so that you can write down the telephone numbers of agents from their For Sale boards. This is an excellent way of finding out if it really is a cheap property as well as supply and demand issues. The agents are generally only too pleased to help if they think they may be getting some business.

Finally nobody, especially property investors ever pay the asking price. You will need to put in an offer. This is an art in itself and will be the subject of a future article from us.

Andrew Stefanczyk has controlled a property investment business for over 14 years. He now advices both beginners and the more experienced investors on how to consistently make a profit from property. His investments over the years have been varied but include apartments, land, houses and commrcial premises. Andrew also owns and operates a website that sources and displays property suitable for investors.

Aside from getting married and having children, buying real estate is probably one of the most important decisions you will ever make. It is definitely the biggest investment you will ever make and it should not be taken lightly. Whether you use an agent or not, you should conduct your own research regarding market trends in the area as well as nationwide. Doing your own homework is especially important now as the housing market starts to turn around and make up for all the losses of the last couple of years. Here are some important trends to look at when conducting your own real estate analysis:

Comparable prices: Peruse the online real estate sites to see what houses in your zip code are going for. Narrow it down by neighborhood as well. This will show you what others are asking for a home that is comparable to the one you are interested in. Only look at the ones that are as similar as possible- square footage, number of beds and baths, etc. The sold amounts are the most important because an asking price may be vastly different from the sale price. Also see what extra amenities the house you like has that comparable ones don’t.

Market Competition: How many other homes are on the market in the area that are similar to it? This can give you a little leverage when negotiating if the market is saturated with 2300 sq ft, 4 beds, 2.5 baths and two-car garage.

Location: Now, the location of the home you like may have an impact on the asking price even if it is exactly like another house three doors down. Maybe the lot is a bit bigger or it is a corner lot.

Condition: Once you have compared prices, drive by the properties you are interested in. How does their condition compare to the others? Maybe it has been recently painted, the interior updated from 70s shag or landscaped to add to its curb appeal. Homes can appear similar on paper, but be miles apart in person.

Days on Market: Knowing how long the house has been on sale gives you some bargaining power as well. The longer it has been, the more willing the seller will be to negotiate the price.

Digging deep with a little foot-work and Internet surfing, you can find this information yourself. Now that you are armed with this information, you can negotiate the best deal for yourself. But, don’t insult the seller by going in with an unrealistic offer. However, to save yourself some time, a real estate agent has easy and fast access to the same information and they can help you make a fair offer and negotiate a good price.

Having a limited amount of cash should not stop you from enjoying your holiday getaway. Many persons choose renting a villa as an alternative to high cost vacation resorts. Villas also offer a lot of advantages like well furnished kitchen facilities and larger living quarters when compared to a Hotel and it comes at a reduced price. It ends up in you saving funds that can otherwise be used for other things while on your vacation. If you spend the time to do some extra research you may just be able to find a villa for an affordable price. In the initial stage you need to do is establish your budget this will lay the grounds for getting a cheap villa. The easiest source to search for a cheap villa is by browsing the web, this source has the most potential clients and at some of the cheapest prices available on the market. Some websites possess search engines which you can place in what you are looking for in terms of your desired location, and how much you are able to spend. One such site is VRBO.com which stands for Vacation Rentals by Owner. The rates here are usually worked out nightly, weekly or monthly. Another website entitled ownerdirect.com also provides information about cheap villas across the regions of Europe, The United States, Canada and Asia. Apart from being very affordable, making payment on a cheap villa is more convenient because it can be done around a PC by using a credit card and it saves you the hassle of booking the Villa otherwise. In addition paying for it at a earlier time could save you additionally Take some time to look through your directory and get in contact with a Rental Company. Rentals companies are great for persons who don’t have a lot of money and want to negotiate on prices. Customers then express their needs concerning what they are seeking. These agencies usually have an idea which set of villas have extra spots that need to be filled so that a customer can get a villa at a cheaper rate than normal. One of the best ways of souring a cheap villa is through a close friend. You may have a friend who travels a lot who you can ask to suggest a place where you can find a cheap villa. In addition the person will be able to tell you what the experience was like so you will have a clearer picture of what you can look out for in relation to the overall experience and living conditions of the environment.

Looking for an apartment to rent was once a daunting task, particularly for new residents to the area. Spending long hours driving and looking for properties, comparing prices and amenities took time and often resulted in frustration. Today it’s easier to find an ideal new home with the help of our apartment review website. Detailed information about available properties in specific regions of the U.S. is continually available. Maps and photographs of the buildings give potential tenants a starting point for their search. If the apartment proves appealing, application forms, rent and lease terms and all the information needed to move in can be easily located. But before committing to a potential property, checking apartment reviews will prevent making costly mistakes.

The Advantage of Using Apartment Reviews

Using the information provided through an apartment review site before selecting a rental saves time and money. Moving is a stressful experience for the entire family. Many changes in our life situations require the need to quickly find a new place to live. We may be facing a move due to job relocation, a change in marital status or just wanting to experience a new area. By reviewing potential rental properties first, the expense and stress involved with relocating are greatly reduced.

Both the tenant and the property owner have the option to approve a potential agreement. Selecting the wrong apartment wastes everyone’s time. By reviewing suitable properties and eliminating those that are either unaffordable or undesirable, the transition is much easier.

What to Look for Before Signing the Contract ?

Location: When choosing a new place to live, the location can be confusing to anyone unfamiliar with the area. Things to consider before renting include close proximity to a job or available transportation for commuters, school districts if children are involved, shopping availability and convenience.

Price: Always make sure that the property is affordable before renting. Consider the cost of utilities and ask about provided services. It’s better to choose a lesser home and have a little extra cash for unexpected expenses.

Suitable for families or adults only: If children will be living in the apartment, make sure that there are safe playgrounds and be cautious about hazards such as pools and spas. Older children may enjoy living where tennis or basketball courts are available. For adults, consider fitness centers and social gathering rooms.

Are pets allowed: Some rentals will allow pets but charge an additional monthly fee. Others specify no pets or allow only small breeds.

Month to month rental contract or yearly lease: Depending on individual situations, signing a full year’s lease may not be suitable. Some building owners allow month to month rentals while others offer six month lease terms. Consider how long this home will be used.

Apartments in Alabama

In the heart of Dixie, Alabama combines peaceful rural scenery with charming towns. The classic Southern cities of Montgomery and Birmingham offer a pleasant environment for residents as does Mobile on the Gulf of Mexico. The booming region near Huntsville continues to grow with new industry and modern commercial centers.

Apartments in Alaska

In the Land of the Midnight Sun, Alaska offers residents unsurpassed natural beauty. From the northern cities of Anchorage and Fairbanks, to the capital of Juneau, many new apartments are available. Living in Alaska offers a unique U.S. experience.

Apartments in Arizona

The Grand Canyon State attracts many new residents who desire a sunny climate and carefree lifestyle. In the Phoenix and Tucson areas, new developments feature beautiful apartment facilities with sparkling pools, tennis courts and golf courses. In the north, Flagstaff offers a four season climate, a top rated university and many outdoor sport activities.

Apartments in Arkansas

Known for its natural beauty, the forested mountains and valleys bring a peaceful ambiance to Arkansas. Small towns with classic American charm are scattered throughout the region. In contrast, the capital city of Little Rock provides a cosmopolitan lifestyle with exciting new apartment facilities and full-scale shopping, entertainment and dining.

Apartments in California

The Golden State continues to bring new residents looking for an ideal year round climate and an exciting lifestyle. Throughout Southern California from LA to San Diego, many new buildings offer attractive rental options. San Francisco including the Bay Area and the Sacramento region are popular destinations with potential opportunities for comfortable housing.

Apartments in Colorado

Colorful Rocky Mountain vistas bring continual enjoyment to the residents of Colorado. The Colorado lifestyle is one of the healthiest in the U.S. with many outdoor activities in Denver, Colorado Springs and throughout the state. New residents will find a variety of apartment rental options.

Apartments in Connecticut

In the Northeast, the Constitution State of Connecticut combines established New England charm with modern amenities. Many restored historic buildings provide comfortable residences for new tenants and are located near public transportation, shopping and cafes. Newly developed residences are located close to the cities, by the shore and near pristine rural scenery.

Apartments in Delaware

Delaware is often called the Corporate Capital because of the favorable tax laws that attract many organizations to the area. Located in the Mid-Atlantic region, Delaware offers residents convenient access to major metropolitan areas including Washington D.C. Many attractive apartments are available throughout the region.

Apartments in Florida

The Sunshine State continues to draw new residents seeking a warm climate and an active lifestyle. Beautifully landscaped new developments throughout the South Florida region including Miami, Tampa and Orlando provide many choices for housing at all income levels. Jacksonville, St. Petersburg and Tallahassee also offer many housing options.

Apartments in Georgia

Once known primarily for peaches and peanuts, Georgia now takes a leadership role in the U.S. economy. The cosmopolitan region of Atlanta booms with a bustling city center, well-designed residential areas and modern shopping malls. Historic ambiance remains in Savannah and rural towns where friendly Southern hospitality welcomes new residents.

Apartments in Hawaii

Fortunate new residents in Hawaii are greeted with “Aloha” every day. Honolulu on the Island of Oahu offers many job opportunities and a casual yet exciting lifestyle. Apartment rentals on the Big Island, Kauai or on the Island of Maui are located in close proximity to beautiful beaches along the Pacific.

Apartments in Idaho

New residents to Idaho will appreciate the stunning natural beauty of this Western U.S. paradise. The metropolitan area of Boise is a short distance from many outdoor recreational areas including Sun Valley. Well-designed and landscaped apartment buildings are found throughout Idaho.

Apartments in Illinois

Historical ambiance and an upbeat modern attitude combine to make Illinois a favorite choice for relocation. The vibrant city of Chicago offers a full spectrum of apartment rentals for all income brackets. Both new development and renovated properties provide a variety of housing choices throughout the state.

Apartments in Indiana

New residents who move to Indiana will quickly become honorary Hoosiers in this Midwest region known for warm hospitality. From the cosmopolitan university town of South Bend in the north to centrally located Indianapolis, clean, comfortable and affordable housing options are easy to locate. Fort Wayne and Evansville also offer attractive apartment rentals.

Apartments in Iowa

Residents of Iowa reflect the true Midwestern spirit with a pleasant and welcoming attitude. The rural atmosphere and easygoing lifestyle make it easy to adjust to relocation. Both manufacturing and agriculture dominate the economy and offer employment opportunities. New housing developments continue to arrive near the capital city of Des Moines.

Apartments in Kansas

Fields of bright golden color give Kansas the nickname the Sunflower State. This friendly Midwest region draws new residents seeking both the peaceful ambiance of rural landscapes and the excitement of major cities. In Kansas City, several newly built apartment complexes offer wireless Internet access, workout rooms and close proximity to major shopping areas.

Apartments in Kentucky

Kentucky bluegrass covers the soft green rolling hills and valleys of this pristine and scenic region. New residents are welcomed with Southern hospitality. Fertile valleys enhanced with thoroughbred horse ranches cover much of the state. The city of Louisville attracts many business and investment firms and provides abundant housing opportunities.

Apartments in Louisiana

On the Gulf of Mexico, Louisiana offers residents a warm climate and abundant outdoor sports. New Orleans brings music, entertainment and fine cuisine to delight locals and visitors to the region. The combination of open space and vibrant cities including Baton Rouge, Shreveport and Lafayette create a desirable relocation choice.

Apartments in Maine

Known as “Down East”, locals always welcome a stranger into town. The stunning rocky coastline of Maine creates a pathway to Canada in this northern New England region. The bustling city of Portland near the New Hampshire border offers many employment and rental opportunities. Augusta, the capital, and Bangor provide additional housing options.

Apartments in Maryland

Located on the Chesapeake Bay, residents of Maryland are both relaxed and cosmopolitan. The Baltimore region continues to undergo major renovation projects where new construction and updated housing developments surround the area. Residents of this Mid-Atlantic area enjoy close proximity to Washington D.C., Philadelphia and Virginia.

Apartments in Massachusetts

In the heart of New England, Massachusetts residents maintain their early American history while encouraging new ideas and friendships. A young and lively environment makes living in the city of Boston a pleasure. New and renovated apartment complexes in Springfield, Worcester, Lowell and the Greater Boston area continue to draw new residents.

Apartments in Michigan

Newcomers to Michigan will discover many beautiful new rental properties. This Great Lakes state combines natural beauty with vibrant cities and towns. In Detroit and the surrounding regions, many renovated buildings provide desirable and trendsetting homes and new properties continue to be built around the state.

Apartments in Minnesota

The lakes and forests of Minnesota attract new residents who enjoy outdoor sports and a four season climate. From hockey in the winter to hiking in summer, the region provides many choices. In the Twin Cities region of Minneapolis and St. Paul, many apartment homes reside near major shopping and dining districts.

Apartments in Mississippi

Known for fragrant magnolias that grow throughout the area, Mississippi is a Southern delight. Warm hospitality greets visitors and the locals welcome newcomers to their towns. Classic and charming architecture fill many of the town centers including Jackson, the state capital. The state offers comfortable and attractive apartments in all price ranges.

Apartments in Missouri

Four large urban areas in Missouri complement the rolling hills and rural settings. Locating an apartment rental in St. Louis, Springfield, Columbia and Kansas City offers potential tenants a variety of options. Choose from historically preserved properties or shining new developments for the ideal apartment home.

Apartments in Montana

Known as Big Sky Country and the Last Best Place, Montana offers new residents wide open spaces and a casual lifestyle. The national parks, ski resorts and outdoor recreational areas are ideal for sports enthusiasts. In the lively cities of Billings, Missoula, Butte and Helena many beautiful new apartment choices abound.

Apartments in Nebraska

Combining a rural countryside and exciting new cities gives Nebraska special appeal. Omaha is rated one of the top places to live in the U.S. and offers many housing choices. Lincoln, he capital, is also an excellent relocation choice and many towns throughout the state offer a pleasant and safe living environment.

Apartments in Nevada

With a warm dry climate, steady employment and abundant new housing, Nevada is one of the largest growing regions in the country. In and around the Las Vegas area, dozens of new apartment complexes dazzle new residents. Standard amenities in many of the buildings include swimming pools, exercise rooms and community areas.

Apartments in New Hampshire

The White Mountains of New Hampshire provide year round recreation for skiing, hiking and weekend getaways. The region surrounding Nashua provides close proximity to the Boston area and is a popular residential community for commuters. Other urban centers in the state including Manchester and Rochester offer a variety of apartment options.

Apartments in New Jersey

New residents moving to New Jersey will enjoy the blend of pleasant countryside and vibrant cosmopolitan areas. The close proximity to New York City and Philadelphia creates a popular place to both live and work. Along the shore, many rental options surround favorite beaches and tourists spots.

Apartments in New Mexico

In the Land of Enchantment, the warm dry climate and stunning mountain scenery attract a continual flow of New Mexico residents. The favorite destinations of Santa Fe and Taos offer a unique Southwest place to live. Albuquerque continues to thrive with beautifully landscaped new developments.

Apartments in New York

The multi-cultural environment that characterizes the American dream comes to life in New York. New York City proudly welcomes new residents from all regions and cultures of the world. A vast spectrum of apartments can be located in the city and range from small studios to multi-room penthouses.

Apartments in North Carolina

Living in North Carolina offers residents the beauty of the Atlantic coastline and the pristine rural countryside of a Southern paradise. The historic town of Charlotte maintains its charming heritage while continuing to attract new business to the region. Renting an apartment in North Carolina provides many comfortable and affordable options.

Apartments in North Dakota

Wide open spaces and a peaceful environment characterize North Dakota on the Canadian border. The largest city, Fargo, offers many apartment choices with plenty of space and recreation facilities. Many Grand Rapids residents attend the local university and in the capital of Bismarck, affordable and comfortable housing choices abound.

Apartments in Ohio

The combination of soft green rolling hills, rural countryside and vibrant cities make Ohio an enjoyable relocation choice. Columbus and Cleveland are sports oriented cities with a variety of industries, colleges and recreation areas nearby. Throughout the Buckeye State, Midwestern hospitality reins welcoming new residents to the area.

Apartments in Oklahoma

For new residents moving to the Western state of Oklahoma, a moderate cost of living and a casual and friendly lifestyle will be waiting. Many attractive apartment rentals are located in Oklahoma City and in the Tulsa area where new growth continues to boom.

Apartments in Oregon

A once undiscovered part of the Pacific Northwest, Oregon now offers homes for many new residents. In Portland, a vibrant cosmopolitan atmosphere mixes well with the culture from the nearby agricultural and wine growing regions. Both Salem and Eugene provide ample new apartment options for renters.

Apartments in Pennsylvania

The Keystone state of Pennsylvania features large metropolitan areas along with age-old country customs. Pennsylvania’s central location and close proximity to other East Coast cities including New York City makes it a desirable home for many business opportunists. New residents will find housing options in all price ranges.

Apartments in Rhode Island

Residents of Rhode Island are never far away from the coastline in this East Coast region of the U.S. Major renovation projects continue to bring the city of Providence one of the highest ratings for desirable places to live. Apartments throughout the state include a variety of architectural designs from historic to modern.

Apartments in South Carolina

Southern hospitality makes new residents feel welcome in the Southern state of South Carolina. From the pristine beaches along the Atlantic to the interior green valleys, there are many places to enjoy in the region. The charming town of Charleston and Columbia’s modern amenities offer a variety of housing options.

Apartments in South Dakota

Known for the stone carvings of Mount Rushmore and the rural landscapes, South Dakota offers new residents a peaceful and relaxing lifestyle. Apartment buildings located in Sioux Falls and Rapid City provide all the modern amenities of larger metropolitan regions. Comfortable and affordable housing may be found throughout the state.

Apartments in Tennessee

Southern charm and Blue Ridge Mountain scenery make Tennessee a good choice for relocation. From the famous music houses of Nashville and Memphis to the bustling communities of Knoxville and Chattanooga, new housing continues to arise throughout the region. Many apartment rentals exist in a variety of price ranges.

Apartments in Texas

The true flavor of the Old West characterizes the vast state of Texas. Here newcomers are greeted with a friendly handshake and invited to a local barbeque. The Dallas-Ft. Worth region provides many housing options from economy to first class. The Houston area continues to grow with new developments rising each year.

Apartments in Utah

Red rock scenery and a four season climate bring many new residents to Utah. Sports enthusiasts appreciate both winter skiing and summer hiking with plenty of options throughout the area. The growing cities of St. George, Ogden and Salt Lake City continue to add beautiful apartment complexes available for rent.

Apartments in Vermont

The Green Mountain state of Vermont is a picture perfect place to live. Forest covered hillsides, serene country valleys and charming New England towns are found up and down this region of the eastern U.S. Apartment complexes in Burlington and Montpelier and throughout the state offer a variety of choices.

Apartments in Virginia

Many of the Southern plantations still remain in Virginia but much of the region now offers viable housing options for new residents. The close proximity to Washington D.C. makes this region a good residential choice for commuters. The town of Richmond and surrounding areas provide new and renovated property rentals.

Apartments in Washington

Newcomers to the Pacific Northwest state of Washington will enjoy a multi-cultural environment and plenty of housing choices. In the Seattle/Tacoma area, both newly built and redesigned apartment buildings are available in all price ranges. Washington locals pride themselves on keeping up to date with technology, cultural activities and recreation.

Apartments in Washington DC

Life is always bustling in Washington D.C. where continual excitement from government activities to tourism fills the air. New residents to the area will find many housing options from a single room studio to multi-story apartment or townhome rentals. Living in the city provides access to many top-rated restaurants, shops and entertainment venues.

Apartments in West Virginia

In West Virginia, the scenic Appalachian Mountain range dominates much of the countryside. Soft rolling hills and pristine green valleys create a desirable relocation choice. In the city of Charleston and other West Virginia towns, historic ambiance combines with modern amenities offering many options for apartment rentals.

Apartments in Wisconsin

The green farmland and wooded countryside of Wisconsin make new residents feel immediately relaxed. This rural setting dominates much of the region but several large metropolitan areas offer full modern conveniences. Madison and Milwaukee continue to grow with new apartment options available for rent.

Apartments in Wyoming

Tales of the Wild West can still be imagined taking place among the rugged beauty in Wyoming. Contemporary residents move to the region to enjoy outdoor sports and to live in one of the last frontiers. Apartment options from simple to elaborate can be found throughout many of the popular towns in Wyoming.

There was a time when condos were considered a better choice financially, but it seems as though condo prices have gone up. But so has their popularity. Many people are turning to the alternative stating it’s a much better selection, and that condos are more impressive then before.

In the 70s and 80s condos were considered only to be for first time home buyers and retirees. But now there is quite a demand for condos. Many of the buyers are retirees and even rich baby boomers. Condos have become very popular in Chicago, Las Vegas, New York, South Florida and many more places.

There are many more luxurious choices and many options for condos. The prices have a wide range so it can fit your budget. There range from 2 million dollar penthouse condos on the market, hotel condos, family homes, to studios. So you don ot necessarily have to buy a 2 million dollar condo, there are some better options that can fit your needs.

Many times these condos contain a doorman, 24 hour monitored security and security staff, maid service, spas, pools, tennis courts, fitness centers, and many many other luxury items and services. But having many of these luxury items also means having an expensive condo. So don’t forget about that.

But that is a small price to pay for happiness; many people enjoy having a condo over looking the ocean.So you can make those dreams come true. Also many people want more space, a 2000 sq ft three bedroom condo used to be normal but now many want 4000 sq ft and up for their condos.

Many feel that a condo is better suited for them and their families. The old idea of who should own a condo has changed dramatically. Now a lot of people enjoy and love condos.

Purchasing a new residence involves many issues and condos may be on your radar. Before you buy, keep in mind there are disadvantages to condominium ownership.

Condominiums – Disadvantages

Condominiums are simply a collection of units in a structure or structures. All property on the interior of the unit is yours with few limitations. Everything outside of the unit, however, is considered to be in the common areas and subject to administration by the homeowners association for condominium communities. As with any bureaucracy, this can lead to problems.

1. Parking – One of the biggest pet peeves with condominiums is parking. While this may sound petty, it becomes a big issue over time if a particular situation occurs. One would think a condominium comes with assigned parking. In many developments, however, this simply isn’t the case. Instead, parking is on a first come, first serve basis. Over time, this situation can become extremely aggravating. With guests in the neighborhood, you may eventually find it difficult to getting parking!

2. Restriction – Condominiums are all about uniformity. If you prefer to express your individuality, the rules of a condominium may drive you insane. Since people live close to each other in condos, there has to be a number of rules to keep the peace. Many condominium associations, however, seem to go overboard with rules and one can often feel like a prisoner. You may be restricted from having pets, particular types of material in your units, renting to others, making noise outside during certain times and so on. Before taking the plunge on a condominium unit, you absolutely must read the rules and regulations for the association.

3. Association Fees – Homeowners’ associations need money to keep the gardening up and so on. As a unit owner, you are responsible for paying monthly homeowners’ association fees. Before taking the plunge, you need to make sure you understand the current fees. You should also look back in time to see how much the fee has risen over time. Paying an extra hundred bucks or so a month probably will not kill you, but what if the monthly fee is five hundred dollars?

The decision to purchase a condominium can be a complex one. While there are distinct advantages, the devil is in the details. Make sure you understand what you are getting into before taking the plunge.

Condominiums tend fall into the love them or hate them position for buyers. Here’s primer on condominiums.

Condominiums

Condominiums are all about communal living, which can be good or bad depending upon your personal views. This type of communal living doesn’t refer to the failed experiments of the sixties wherein hippies packed into a structure and shared everything. Instead, the modern condominium community is all about sharing common spaces as well as rules, rules and more rules.

Condominiums come in all shapes and forms. Condos can be found in a single high rise building in a downtown area or in an apartment complex type of layout in a planned community. The structure isn’t the determining point. Instead, the issue is how the properties are owned.

Unlike a stand alone home, the property lines on a condominium are the walls of the structure. Essentially, you own everything inside the condominium as your individual property. Everything outside the condominium is owned jointly with the people who own the other units. These areas are known as common areas and are subject to group rule.

Every condominium has a homeowners association in one form or another. The association has rules set out by the original developer regarding landscaping and so on. Members of the community are then elected to the board of the association, whereupon the immediately become a focal point of aggravation from individual owners and often wonder why they took the thankless job.

The problem with the association and condos in general is the issue of uniformity. If you desire to change the exterior of your condominium in some way, you must comply with the rules of the association. This means you cannot paint your property a different color, do landscaping and so on. For some people, this isn’t a problem, but others are frustrated they can’t express themselves.

When deciding whether a condominium is a good option for your next purchase, you need to carefully weigh the restrictions of a particular association. If you consider yourself an individual and want to show it, a condominium is probably a very poor choice for you.

The choices for today’s condo market are filled with more and more options. From the ultra luxury $2,000,000 plus penthouses that equal million dollar single family homes, to ultra-luxurious hotel condos, to 600 sq. ft. studios. This diversity of residences allow the growing condo market to offer many choices for every level of home buyer.

The word condominium actually describes individual ownership in a multiunit structure, not the architecture of a property. In the 1970s and ’80s, condominiums were thought to be a choice only for first-time home buyers and retirees.

For Dana Berke, director for the Ultra luxury Condominium Division of www.chicagosbesthomes.com, Chicago, Il., that ownership centers around a specialized buyer looking for a high-quality lifestyle, stunning views, top-notch locations, and world-class amenities and they are willing to pay for it.

From new money rich baby boomers to retirees, luxury condo living is in demand across the country. In addition to Chicago, luxury condos have strong growth in all the major markets, including Las Vegas, South Florida, Scottsdale, New York, and Pittsburgh.

According to La Jolla, Calif.-based DataQuick Information Systems, California recorded 1,677 condo sales in the $1 million category last year, up more than 90 percent from 879 in 2004.

These luxury dwellings often include a doorman, concierge service, 24-hour monitored security and security staff, maid service, luxury spas, pools, tennis and racquetball courts, state-of-the-art fitness centers, designer appliances, top-of-the-line fixtures and lighting, marble floors, walk-in closets, wireless Internet access in all common areas, owner’s lounges, business centers, wine rooms, movie theaters, and valet and underground parking.

But luxury costs. Price per square foot can start as high as $600, Some areas are starting at $800-$1000 per square foot. The Luxury Condo-Hotel market can start as high a $1250 per sq. ft. The other costs are the monthly assessments that can cost as much as $1,000 to $3,000/month.

9/11 seems to have had a hand in the booming luxury condo market. People have decided they no longer want to wait till retirement for that condo by the ocean, or that downtown high rise.

In addition to all the luxury amenities, people also want more room. The 2000 sq ft. 3 bedroom condo is no longer the norm, people want 4000+.

Of course, a condo doesn’t have to be new or luxurious to be desirable. Recognizing the need for affordable housing, and increased building costs and land restrictions in many markets over the past 15 years, developers and investors have been turning attached rental apartment into condominium communities and the movement to convert has never been stronger than in the past year.

Even at this end home buyers, looking for a small 1 bedroom or studio, people want choices. Granite, Stainless Steel appliances, hardwood floors. No longer are they willing to take whatever is available in their price range, they seek out new developments where they can make their own choices. Many developers are building condos in this price range, they can sell them out quickly and go onto the next protect.

According to New York-based research firm Real Capital Analytics Inc., nationwide sales to converters increased to more than $28 billion (representing 182,742 units) in 2005 from more than $11 billion (representing 77,193 units) in 2004.

Some of these conversions are truly stunning. What starts as an old apt. building is transformed
into a showcase condo building. The homes are completely gutted and replaced with hardwood floors, granite counters, stainless steel Appls. The literally replace everything in the common areas, carpet, window treatments, ornate facades & beautiful landscaping and even sometimes adding pools & spas. They usually will offer existing renters a discount to stay in the building.

Condominiums are no longer a cheap alternative but a “Lifestyle”. Many condominium owners cannot imagine any other way to live.