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A condo lease agreement is a legal document between a condominium owner and a tenant, allowing the tenant to rent a residential unit. Tenants must adhere to the condominium association's rules and will have rights to common areas and community privileges, unless stated otherwise in the lease. The rights and responsibilities of both the condominium owner and the tenant are similar to those in other residential lease agreements. Once signed, the lease becomes binding for both parties. Condominiums are properties that include individual units, often found in high-rises, where owners pay association fees for property maintenance and management.
