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A condo lease agreement is a legally binding document between the owner of a residential unit in a condominium and a tenant. The tenant must adhere to the rules and regulations of the condominium association and is entitled to access common areas and community privileges unless specified otherwise in the agreement. Both the condominium owner and the tenant possess the same landlord and tenant rights as with any other residential property. Condominiums consist of individual units that share common areas, often seen in high-rise buildings. Each owner contributes to an association fee, which supports property maintenance and management costs.
