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A condo lease agreement is a binding document between a condominium owner and a tenant allowing the tenant to occupy a residential unit within a condominium association. Tenants must adhere to the association's rules and have rights to use common areas and other community privileges, unless specified otherwise in the agreement. Both the condominium owner and lessee enjoy standard landlord and tenant rights, similar to other residential leases. A condominium consists of individual units sharing rights to common spaces, commonly seen in urban high-rises. Owners pay association fees for property maintenance and personnel salaries.