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A condo lease agreement is a legal document between a condominium unit owner and a tenant. It outlines the tenant's obligation to follow the condominium association's rules and grants access to common areas and community privileges, unless stated otherwise. Both the condo owner and tenant hold the same landlord-tenant rights as in any residential lease. A condominium consists of individual units sharing rights to common areas, commonly found in residential high-rises. Each unit owner pays an association fee that contributes to property maintenance and associated salaries. Once signed, the lease becomes legally binding for both parties.
